Should you place a personally Owned vehicle on a Business Auto Policy Written by The Insurance Center Agency, Inc on Mar 21, 2017
The owner of a corporation, the named insured, wants to add a personally titled vehicle to the corporationâ€™s auto policy.
A formal lease should be in place from the individual to the corporation. The lease should contain language that requires the lessor to be named as an additional insured under the named insured's auto policy, as well as any loss payee requirements.
Some, may think itâ€™s not necessary to list the lessor as ...