Auto Insurance question

[Ripsnort]

Has anyone ever loaned a vehicle to someone?

What are the insurance ramifications if I loaned my insured Motorhome to my best friend for the weekend, should he be in a wreck?

Thanks in advance. 

[Dragon]

You would somehow get screwed. 

[batch]

You would somehow get screwed. 

ROFL too true

[Bodhi]

Call you insurance company.

Lastly, remember, that you won it on paper.  If something happens, people can sue anyone.  It is up to you to defend yourself.

[trigger2]

Depends on your insurance company and your coverage. With my insurance I have it so that it can be driven by someone who is not on my insurance and still be covered. I'd recommend giving them a call and finding out what they have to say about it.

[Swoop]

You either need to be covered by your insurance (check your small print, clauses like "any driver" "any named driver", etc, may require you to inform your insurer beforehand) or his insurance (check his small print, clauses like "any vehicle", however, chances are if his insurance covers him for any vehicle it's only 3rd party insurance - ie damage to someone elses vehicle, not the one he's driving).

Best bet is call your insurer.....and record the call.

[CAP1]

Has anyone ever loaned a vehicle to someone?

What are the insurance ramifications if I loaned my insured Motorhome to my best friend for the weekend, should he be in a wreck?

Thanks in advance. 

i hate to say this......but that seems like a bad idea.


if you're going to do it though, check with your insurance company. then verify that your friend has experience driving these. they(as you well know) handle significantly differently than your average vehicle.

and finally, dipping into even more paranoia, talk to your lawyer, find out what he says as to what can happen to you should something happen.

[Shamus]

Depends on what kind of coverage is required in the contract by your state insurance commissioner.

In my state any licensed driver with the owners permission was covered, a few years ago that was changed to require notification and listing of the driver with the company, for an additional premium naturally.

In my state there is also an owners liability statute that holds the owner responsible for actions of the driver, could come into play if a claim exceeds policy limits.

Qustions like this are why you have an agent, call him.

shamus   

[eagl]

In my experience, most policies cover you if you loan your car to someone.  HOWEVER, you need to call your insurance company and ask that specific question because:

1.  Every policy is different
2.  That's an RV and probably doesn't have the same standard coverage as a regular car

[Stalwart]

I wouldn't loan a vehicle for very long.   If something tragic happens, in all likelihood someone is going to come after the owner of the vehicle, even if the owner had nothing to do with an incident.

[AKHog]

Stupid insurance advice like "call them but be sure to make a record of the call" is obviously coming from someone who has never really had to deal with an insurance company nor has any idea of how they really operate.

They can tell you anything they want on the phone, the only thing they have to live up to is what is in the contract. After you have to spend several thousands of dollars on attorneys and court costs you'll begin to understand the level at which these companies operate.

This is not just some BS I read on the internets, this is coming from real personal life experience (unfortunately). Insurance companies are in existence for one reason only, 'increase shareholder value'. My advice is get the least you can be legal with and be prepared to take care of all of your problems and expenses yourself. That means don't lend your motorhome to your friend if you can't afford to have him wreck it.

[Vudak]

 My advice is get the least you can be legal with and be prepared to take care of all of your problems and expenses yourself.

Terrible, terrible, terrible advice.

[Vudak]

Ripsnort - to answer your question - go with eagl's advice...  Call your company.  If it was a car, I'd think you'd probably be good to go, but I have no idea what the language is like for RV's...  Also, every state is different, so we're all pretty much useless.

Take the name of the person who called you and record the call if you're really worried. 

Regardless of what your policy says, if something happens (from the most minor fender bender upward) expect to get a letter from an attorney saying something along the lines of:

"This office represents Mr. John Doe who was injured and whose vehicle was damaged in a motor vehicle accident when [your friend], driving a vehicle owned by you, collided with his vehicle.  This accident occurred on such and such a date at such and such a place.  Please turn this letter over to your insurance company for proper handling."

The reason you purchase insurance is so that if you get this letter, you have someone to defend you...  This is the "product" insurance companies sell.  If they don't adequately defend you, you have a bad faith claim against them.

As an aside, please realize that people like AKhog exist (with no facts, but many years experience, I'd say they're likely a majority), and when they cause an accident that causes you to have more damages than their policy covers, you had better either have a very strong underinsured motorist policy, or pray to your deity of choice that AKhog actually has assets that can cover your loss.  Otherwise, you're screwed.