What does Employee As Lessor Endorsement mean? Read on to discover the definition & meaning of the term Employee As Lessor Endorsement - to help you better understand the language used in insurance policies.
Employee As Lessor Endorsement
This commercial auto endorsement (CA 99 47) may be used to afford coverage on a primary basis on an auto that is owned by an employee of the named insured and is described on the endorsement. The described auto will be considered a covered auto the named insured owns and not a covered auto the named insured hires, borrows, or leases. The difference is important because, under the CA 99 47 endorsement, the policy would provide primary coverage for those vehicles. An unendorsed commercial auto policy would only provide excess coverage.
We hope the you have a better understanding of the meaning of Employee As Lessor Endorsement.