We cover base liability insurance. In the unfortunate case of an accident this will helps cover the costs of the other driver's property and bodily injuries if you (the renter) is found at fault in an accident.
If you do not have a personal auto insurance policy that covers rental vehicles please look into purchasing third party insurance. The cost of the linked suggestion is typically about $6.50 per day.
The following is a copy of the Insurance section included in the Vehicle Use Agreement that you will sign before being able to rent. Please read the Vehicle Use Agreement when it is sent to you.
All protection plans made available by Tesloop include coverage for Driver under a third-party automobile liability insurance policy purchased from [Philadelphia Indemnity Insurance Company].
Subject to terms, conditions, and exclusions, the Policy provides Driver with the following kinds of coverage while they are driving the Vehicle during the Vehicle Use Period.
Bodily injury and property damage to third parties:
The Policy insures Driver against liability to third-parties for bodily injury and property damage resulting from the use of the Vehicle during the Vehicle Use Period, up to a limit of $15,000 per person, combined single limit of $30,000 per accident. This coverage cannot be declined.
Personal Injury Protection (“PIP”):
The Policy provides twice the minimum amount of PIP coverage allowed by law in those few states where PIP coverage is required by law or $15,000.00 whichever is greater.
The scope of PIP coverage varies by state, but typically protects Driver and passengers (up to a stated dollar amount) for medical expenses, loss of income, funeral expenses and similar expenses resulting from injuries incurred during the use of the Vehicle during the Vehicle Use Period, without regard to who was at fault.
PIP is not required in all states and may be waived in some states.. Drivers and Owners are bound by Tesloop’s election and, in addition, agree to be bound by that election.
Uninsured or Underinsured Motorist (“UM/UIM"):
The Policy provides $500,000 in UM/UIM coverage
UM/UIM coverage, protects Driver and passengers from losses resulting from bodily injury or property damage caused by an uninsured driver, hit and run driver, a driver whose limits of liability have been exhausted, or a driver whose insurer is insolvent while in the Vehicle during the Vehicle Use Period.
Drivers and guests are bound by Tesloop’s election and, in addition, agree to be bound by that election.
The third-party liability insurance coverage provided to Driver under the Policy is always secondary to any other applicable insurance the Driver may have (such as a motor vehicle insurance policy covering vehicles owned by the Driver). *Note: In some states, the Owner’s policy may continue to provide coverage for Driver and passengers, even during the Vehicle Use Period. Tesloop does not provide information or advice about the existence or scope of any coverage that might be available under the Owner’s policy during the Vehicle Use Period.
Your personal/business insurance may cover your liability. Tesloop provides no liability protection under the terms of the Vehicle Use Agreement to the Driver from claims of injury by others against you resulting from an accident. Tesloop's liability protection is secondary to any other insurance coverage available to you. If you do not have liability insurance and/or the limits of liability of the insurance coverage available to you are not sufficient to cover claims by others against you, and Tesloop, provides liability protection due to an accident, you will indemnify Tesloop for any and all payments made.
If driver does not provide their own insurance:
For each rental Driver is responsible for up to $2,500 of damage to the vehicle. For each calendar month that a Driver will rent a vehicle, he/she must pay to Tesloop so that Tesloop is covered from liability based on Driver’s use of vehicles. Driver has the option of paying per day rental period (“Deductible waiver insurance”) to Tesloop and then will only be responsible for $300 which Tesloop has authorized as a hold on Driver’s credit card. In the event of a collision, where the Driver has purchased the $10 rental insurance, and vehicle damage exceeds $300, Driver will forfeit the $300 authorization hold.
If Driver elects to provide their own insurance and act as primary insurer in case of incident:
Driver must secure insurance policy with collision and comprehensive coverage. Driver must secure liability insurance with minimum coverage limits of:
$100,000/$300,000 - Bodily Insurance
$100,000 - Property Damage
If vehicle is involved in an incident, Driver takes full responsibility for repair or replacement of Vehicle.