Gosh, this is proving to be more difficult than I imagined. Not in getting the membership (that's easy and the whole process takes all of about 5 minutes), but in satisfying my company's requirements. All agents, that is if you are with a reputable firm, are required to carry a certain amount of insurance and inclusion of the broker as an additional insured.
After some research, City Car Share has the best insurance plan, covering way above the state minimums in collision, under/uninsured motorist and medical payments. Liability per occurrence is $300,000 for Zip vs. $1,000,000 for CCS. So, hands down, I'm going with City Car Share. But, as it turns out the latter of my requirements is causing the most headache.
In the very small chance, after an accident, one of my clients sues PacUnion instead of the insurance company, CCS or me, as an additional insured on my policy, PacUnion would be covered by my insurance first. When I had a car, my personal auto insurance allowed me to add Pacific Union as an additional insured without additional cost and it was a very simple thing to do. This reduces our Errors and Omissions Insurance too. (Hence the real reason for the requirement I'm sure.) But, I don't have my own policy with City Car Share. It is an umbrella policy on which I am an additional driver. Neither Zip or City Car Share will allow a non-driver, Pacific Union, on the policy as an additional insured. Get that so far?
But, here's the kicker. If I still had a car and had regular auto insurance, I could use CCS without a problem because my previous insurance covers "rental cars" the category CCS and Zip fall into. And that's what Zip Car kept telling me over and over. Zip Car manager: "We have lots of real estate agents using Zip Car and no one has asked to put their broker on as an additional insured. You are the only one with the problem." The point is, I don't want to have a car period. Let alone pay for $250/month in storage just so I can have a car to get around this issue. "I'm sure the "other" agents have cars and use Zip as a rental car alternative," I said back to her to which she responded, "I think you are making this much harder on yourself." Isn't that the truth. (For the record, CCS doesn't allow it either, but they weren't quite so mean). All I want to do is be a successful real estate agent working in a dense city without a car.
So as we speak, I'm working with my company to waive the additional insured requirement, because as I see it, $1,000,000 is much more coverage than their requirement ($300,000) and therefore should reduce the risk by $700,000. That's a huge chunk of money.
I do have to say that PacUnion is being very accommodating with my *crazy* idea to go the ultimate green--no car at all. I'm more like chartreuse at this point. They are even considering a CCS business account now, which is very exciting. So, hopefully this decision will break precedent and I can brag about how progressive the company is to all of my friends and clients.
Keep your fingers crossed.
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Posted by: Alton | March 02, 2010 at 08:26 PM