Lending Out Your Truck- Part 2

Finally, if it could not get any worse, you now have an “at-fault” rating on your insurance record even though you were not even the driver! When, or if, you go to purchase a new vehicle and arrange new insurance, there may be a considerable increase in your premium.

This sad but fictitious tale just serves as an important reminder. It is your hand truck that is insured and this insurance is subject to all of the terms, conditions, and exclusions, as spelled out in the actual policy document*. When you lend your vehicle you are effectively lending your insurance. Use caution when doing so. Make sure the driver is properly licensed and ensure you are comfortable with the consequences in the event of such an incident.

Attention business owners. This applies to employee drivers as well.