Which type of auto policy provides coverage for contingency situations?

The Lessor's Contingent Automobile Policy is designed specifically to provide coverage in contingency situations where a lessor may be held liable for damages or injuries that occur while a rented or leased vehicle is in use. This type of policy offers protection for the lessor against financial loss that may arise when the lessee (the person renting or leasing the vehicle) is involved in an accident or incident.

This policy is particularly pertinent for anyone who leases vehicles, as it addresses the unique risks associated with having another individual operate the vehicle. It ensures that the lessor is not exposed to unintended liability due to actions taken by the lessee while using the vehicle. This coverage is important because standard auto policies may not extend to cover the lessor’s liability, especially in situations where the lessee has primary responsibility for the operation of the vehicle.

In contrast, other types of policies such as the Excess Auto Policy, Garage Policy, and Standard Non-Owned Auto Policy cater to different needs and circumstances related to auto insurance but do not specifically focus on the contingency aspects tied to leasing situations.