Temporary Renters Insurance

[beckpm]

The insurance discussion here has been interesting. I am looking into Segway Insurance from an user/owner's perspective and will be posting my findings in the General Discussion area of this chat - there are some interesting pieces of information showing up there if you haven't checked lately.

I am looking for information on where (or if) a rental patron could get a short term policy if he were to rent or use one of your Segway's on a tour. When you rent a car they always offer you some insurance (often times at a high rate - I usually decline because my normal car policy covers me except if I am overseas) that covers your liability. When you rent a segway or take a tour you sign a waiver and your personal liability coverage probably leaves you hanging. Furthermore, if a source for short term insurance offerings could be found for a fee of $10 or $15 a day or so, it would offer a commission to the person who signed the customer up (you rental and tour people!).

Anyone know of short term temporary Segway Insurance?

<div align="right">http://www.segwaychat.com/photos/beckpm/smallsig.GIF</div id="right">

[Segway City]

Homeowners insurance will generally cover your (failed) operation of rental devices, even away from home. Check with your agent.

Many travel policies will cover just about any legal activity while on a bona fide vacation. Some credit card companies accept an implied coverage of an item when used to pay for use of that item, others have outright coverage of device and operator.

That said, if there was a claim, the individual may recover from their policy, but the insurance company would pursue recovery from the source of the loss if the payout was significant. My bet would be that the claim threshold for a recover effort would be around $1000.

But the fact is: insurance is institutionalized gambling. The underwriters aren't stupid; if the odds are not on their side they won't issue coverage. There has to be enough volume to cover claims and still provide a profit. I can't see that volume being available on a onesey-twosey basis, even on a nationwide basis. The only way the volume would be there is if the coverage was lumped in with a more braodbased policy.

And don't be sure that by signing a waiver that liability is actually waived. Ever notice the "not responsible for windshield damage" signs on the back of rock trucks? They have absolutely no legal basis in preventing a claim and, in some locales, actually increase liability because the sign proclaims the knowledge of a possible unsafe condition and an unwillingness to cease activity that is known to be hazardous.

[beckpm]

quote:Originally posted by Segway City

Homeowners insurance will generally cover your (failed) operation of rental devices, even away from home. Check with your agent....


Larry,
Don't be so sure about the Homeowners Insurance - have you read this:

http://www.faia.com/education/edlibrary/segway.cfm



<div align="right">http://www.segwaychat.com/photos/beckpm/smallsig.GIF</div id="right">

[Segway City]

Ahh, but my State Farm homeowners policy specifies local law as the defining medium, and Tennessee law specifically denies EPAMDs any status as a motor vehicle.

I can see some states having difficulty where, by statute, an HT is a "vehicle". In the majority, including SegFest's Florida locale, it is a device. As a device, it is no different than a Maytag washer or power sander and homeowners insurance will cover liability incurred as a result of improper operation of your rented device.

Just to be sure I was covered big time, I bumped my homeowners to $1M per incident with by an extra $21 annual payment.

Now, that covers the renter, but not the rental agent/company. It would be a harder case to sever that relationship where a third party was involved, as it could be argued that they created an attractive nuisance facilitating the 3rd parties' loss. Subrogation would allow the homeowners insurance company to go after anyone they thought had deep pockets. Tort law is not my thing, so consult your attorney for specifics as they relate to you.

[beckpm]

quote:Originally posted by Segway City


....
Now, that covers the renter, but not the rental agent/company. It would be a harder case to sever that relationship where a third party was involved, as it could be argued that they created an attractive nuisance facilitating the 3rd parties' loss. Subrogation would allow the homeowners insurance company to go after anyone they thought had deep pockets. Tort law is not my thing, so consult your attorney for specifics as they relate to you....


Larry,
You must be a lawyer? "Subrogation?" Anyway thought you might be interested in another discussion on homeowners and umbrellas relating to the Segway:

http://www.iiaba.net/VU/Lib/Ins/PL/Homeowners/ThompsonSegway.htm



<div align="right">http://www.segwaychat.com/photos/beckpm/smallsig.GIF</div id="right">