Penske insurance requirements

“As part of the commercial rental process, Penske requires proof of insurance coverage. To insure your rental, you may either purchase Penske-supplied coverage or supply your own coverage.”

“Coverage products described below are synopses, subject to all provisions, limitations and exceptions of the policies described. All rentals require insurance that meets Penske and applicable government requirements.”

“Physical damage – the Limited Damage Waiver (LDW) – Provides protection for the loss or damage to the vehicle during the term of the rental, subject to certain exceptions. Your responsibility for the loss or damage is based upon the option selected and the reasons for the loss. Speak to your Penske Rental Representative.”

“Liability – You are protected to the limits of liability up to the requirements of financial responsibility law or other applicable statute of the state or municipality in which the accident occurred. Liability coverage not available on tractor rentals.”

“Supplemental Liability Insurance (SLI) – Protects the renter and any listed authorized drivers against claims made by a third party for bodily injury and/or property damage sustained as a result of an accident. This coverage is excess over the underlying insurance specified within your signed rental agreement up to $300,000 for bodily injury and/or $50,000 for property damage.”

“Unavailable for hazardous materials transport or vehicles over 33,000 lb. GVW.”

“Penske Insurance Risk Management approval required for hazardous materials transport. Coverage requirements may vary. All authorized drivers must be at least 21 years of age to purchase this coverage.”

“Note: CSL coverage requirements are subject to change if transporting hazardous materials.”

“Please send us a Certificate of Insurance (COI) from your insurance provider that shows Liability and Physical Damage coverage evidence, as applicable based on if you are providing one or both of them.”

“Effective and expiration dates (Coverage must extend through your entire rental period)”

“Signature or stamped signature of authorized representative”

“For Trucks At least $1,000,000 Combined Single Limit (CSL) liability At least $120,000 in physical damage coverage For Tractors At least $1,000,000 Combined Single Limit (CSL) liability At least $150,000 in physical damage coverage”

“For Trucks Liability Coverage At least $1,000,000 Combined Single Limit (CSL) liability Physical Damage At least $60,000 in physical damage coverage”

“Limits: Each Occurrence – Per Vehicle For trucks: At least $120,000 For tractors: At least $150,000”

“Comprehensive and collision deductible amounts covering vehicle (If over $5,000, approval from Penske management is required)”

“Acceptable: Any auto or hired autos; these cover any auto on contract”

“Unacceptable: Scheduled autos; all owned autos, non-owned autos, non-trucking. Under no circumstances should the Scheduled box be checked. This will invalidate the COI.”

“All customer-supplied insurance coverage must demonstrate a blanket auto policy for both liability and physical damage.”

“Certificate Holder Penske Truck Leasing Co., L.P. 2675 Morgantown Road Reading, PA 19607”

“Penske Truck Leasing Co., L.P. and its partners are named as additional insured and loss payee for all vehicles leased or rented from Penske Truck Leasing Co., L.P., including substitute, extra, permanent replacement, or interim vehicles.”

“All certificates MUST be worded as follows, with required “loss payee” wording applying to physical damage coverage and “additional insured” wording applying to liability coverage:”

“Cancellation Notice: A minimum 10-day cancellation notice is required. Please email any cancellations or reinstatements to: rental.insurance@penske.com”

“If Penske does not have a valid, unexpired insurance certificate on file from Customer covering the Vehicle, Penske may, in addition to any other remedy herein, elect the Penske Limited Damage Waiver and/or Penske Liability Coverage option and bill Customer accordingly.”

“Coverage amounts are subject to change. Certain conditions and exceptions may apply. See Rental Agreement for full details. You must be 18 years of age or older to rent a Penske commercial truck.”

“Please provide to your local Penske office before pickup.”

“Additionally, Penske will not extend coverage on tractors.”

“Regularly scheduled preventive maintenance, repairs, inspections, tire replacement or repairs, and roadside assistance are all included with your truck rental. You are responsible for insurance coverage, fuel and any damage beyond normal wear and tear.”

“We offer limited damage waiver (LDW), liability (LIA) and supplemental liability coverage (SLI).”

“For complete details, including costs and limitations associated with any of the insurance options mentioned above, please contact your Penske representative”

“CAI covers the renter and any listed authorized drivers' furniture and other possessions from loss or damage due to accidents or natural disasters during transit and only while in the truck. Furniture and possessions damage while loading or unloading is not covered. Cargo coverage for the entire rental is limited to $15,000 (deductible per occurrence $100).”

“Item Two of the Declarations shows the "autos" that are covered "autos" for each of your coverages. The following numerical symbols describe the "autos" that may be covered "autos". The symbols entered next to a coverage on the Declarations designate the only "autos" that are covered "autos".”

“Only those "autos" you lease, hire, rent or borrow. This does not include any "auto" you lease, hire, rent or borrow from any of your "employees", partners (if you are a partnership), members (if you are a limited liability company) or members of their households.”

“Only those "autos" described in Item Three of the Declarations for which a premium charge is shown (and for Covered Autos Liability Coverage any "trailers" you don't own while attached to any power unit described in Item Three).”

“Only those "autos" you do not own, lease, hire, rent or borrow that are used in connection with your business.”

“Anyone else while using with your permission a covered "auto" you own, hire or borrow except: (1) The owner or anyone else from whom you hire or borrow a covered "auto".”

“For Hired Auto Physical Damage Coverage, any covered "auto" you lease, hire, rent or borrow is deemed to be a covered "auto" you own. However, any "auto" that is leased, hired, rented or borrowed with a driver is not a covered "auto".”

“For Hired Auto Physical Damage, we will pay expenses for which an "insured" becomes legally responsible to pay for loss of use of a vehicle rented or hired without a driver under a written rental contract or agreement.”

“However, the most we will pay for any expenses for loss of use is $30 per day, to a maximum of $900.”

“"Property damage" to or "covered pollution cost or expense" involving property owned or transported by the "insured" or in the "insured's" care, custody or control.”

“IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed.”

“Subject to Subsection (3), a policy issued or renewed on or after January 1, 2025, containing motor vehicle liability coverage may not limit the insurer's liability under that coverage below the following:”

“Notwithstanding Subsection (2), for a policy for a self-insured, private rental fleet, the policy containing motor vehicle liability coverage may not limit the insurer's liability under that coverage below the following:”

“For-hire (In interstate or foreign commerce, with a gross vehicle weight rating of 10,001 or more pounds) Property (nonhazardous) $750,000”