Insuring Long-term Leased Vehicles

Policy No: 
8.15.2
Type of Policy: 
Administrative
Last Revised: 
March 2015
Review Date: 
March 2018
Policy Owner: 
Insurance and Claims Management
Contact Name: 
Tom Provancher
Contact Title: 
Director of Insurance, Claims & Property Control
Contact Email: 
tom.provancher@business.gatech.edu
Policy Statement: 

Overview
The State Insurance program includes identical coverage for Long-Term leased vehicles as found in "Insuring of State Owned Vehicles".

Policy Terms: 

Long Term Lease
A rent or lease of a vehicle for greater than 30 days.

Procedures: 
  1. Georgia Tech employees, in order to obtain low cost liability and physical damage coverage must specify the minimum 31 days (or more) rental period on the leasing agreement.
  2. The employee shall decline liability and collision coverage offered by the rental/leasing car company.
    Caution:
    Do not confuse this policy with the policy on Rental Vehicles (see "Insuring Rental Vehicles")
  3. The rental/leasing car company will require proof of insurance. This can be obtained by calling the Georgia Tech Insurance & Claims Management and requesting same. Be prepared to give pertinent vehicle and company information including; year, tag number, make, model, and V.I.N. of car to be rented/leased. Obtain name of company, address and email or fax number.
  4. Georgia Tech Insurance & Claims Management will notify DOAS Risk Management and request a Certificate of Insurance naming the rental/leasing car company as Certificate holder. The Certificate will be emailed or faxed to the rental/leasing car company as expeditiously as possible.
  5. Upon receiving the lease agreement, the employee shall forward a legible copy to Georgia Tech Insurance & Claims Management for forwarding to DOAS. It is required that a copy of the lease be kept at DOAS.
  6. The vehicle shall be added to DOAS Fleet Management’s Vehicle Inventory System (VITAL) for auto physical damage coverage.
  7. Georgia Tech Insurance & Claims Management shall be notified at lease end.
Policy History: 
Revision DateAuthorDescription
March 2015Insurance and Claims ManagementMinor language update and contact information
Map of Georgia Tech

Compliance and Policy Management
760 Spring Street N.W. Suite 324
Phone: 404-385-0731