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Hi Everyone;
Greetings from the very beautiful but very snowy upper Midwest! I'll be working on St. Thomas, starting next week and leasing a car for four months.
The St. Thomas leasing car company requires that they be named on the policy as "Loss Payee". My regular car insurance company (a big Midwest company) has never heard of this and refuses to do it, so I'll have to go with an island insurance company once I get down.....
My question - Is this typical when leasing a car on St. Thomas? Is there anything I should be aware of before I sign up with the new insurance? Per recommendations on this forum, I'll probably be going with Guardian, unless other people have had bad experiences they wish to share.
Thanks again for best (and most lively) message boards in the western hemisphere!
Jlee
Posted : December 28, 2007 8:26 pm
Yes, it's common for a company to require this in the VI. Your stateside insurance carrier would probably not be an admitted carrier here so you will need to secure your own insurance once you arrive on island. Check with a local insurance agent . The link to the VI phone book is www.viphonebook.com. You can call around for rates. You may need a copy of your lease agreement to show to the insurance agent so they can have the leasing company named as loss payee. You might also want to ask the leasing company about the minimum insurance requirements they require you to purchase. The minimum required by VI law for personal insurance is 10/20/10. Before you leave the States, ask for a loss history from your current carrier( they should do this at no charge) and/or a driver's record from your local Bureau of Motor Vehicles ( they may require a small fee). If you have a clean driving record this may get you a discount on your auto rate on island.
Posted : December 29, 2007 1:00 am
