Reputation: 20
-
Total posts: 2
A business owner leased an Auto from Ford Motor credit for the manager of his business who has no auto insurance and because he had bad credit. The auto is regularly used by the manager of the business. The owner (lessee) of the auto never uses the vehicle. The owner would like to keep the vehicle and any claims away from his personal insurance and $5,000,000 umbrella. The lease with Ford Motor credit restricts a sub-lease to the manager. I would like to get adequate coverage for the manager, but his credit is horrible. Progressive will only write a $500,000 limit for $2,500. I can get the business policy to write a $1,000,000 limit with DOC for the manager. However, I am concerned that the named insured on the business policy and the owner of the vehicle are different. Any ideas on how to cover this situation?