Quote:
Originally Posted by GoinAllTheWay
I think this is the important part. There is likely no written agreement (nor would I rely on that anyways) when borrowing a friends car but there certainly is in a rental situation.
That's with respect to liability to other people or their property. The rental car would be considered a temporary substitution of your own. It's basically being treated like it's yours. The liability limit would not be applied to physical damage to the rental vehicle. Whatever the limit of the 27 is would be the most your insurer would pay out for physical damage to the rental vehicle.
I've seen many claims involving people getting into accidents with their friends vehicle and in each instance, the payout was from the owners policy, not the borrowers regardless if the 27 is on the borrowers policy or not. I'd tread carefully assuming the SEF 27 would respond in that situation.
|
That's fair. I've always perceived SEF 27 to be a more secondary policy and safety net in those instances. It's more for if the policy of the friends or family vehicle was inexplicably invalid. I wouldn't be jumping out of a friend's car going, "It's OK, I have a SEF 27 endorsement!".
It's more like the absolute worst case scenario, "CC coverage didn't deal with it?/The insurance wasn't valid or appropriate? Well, thank god I have SEF 27 so I'm not out of pocket a ton of money because there were no other policies in place." It certainly would not be something like, "Oh, you haven't activated insurance after pulling it out of storage? No worries bro, I have an SEF 27 endorsement."