What is the commercial auto endorsement that treats leased vehicles as owned vehicles for coverage purposes?

The Additional Insured-Lessor Endorsement is designed to extend coverage to a lessor of a vehicle in a commercial auto insurance policy. This endorsement ensures that vehicles leased by a business are treated similarly to owned vehicles for insurance purposes. This is crucial because it provides the lessor with the same level of protection and coverage as if they were the owner of the vehicle, which can cover any liabilities that might arise during the use of that vehicle.

When businesses lease vehicles, it is important for the leasing entity to be added as an additional insured party on the policy. This allows them to claim coverage under the policy in case of an accident or damage involving the leased vehicle, aligning the coverage with that of owned vehicles. The endorsement effectively bridges the gap in coverage to ensure that the interest of the lessor is adequately protected as well.

The other options do not provide the same coverage treatment for leased vehicles as owned vehicles. For instance, the Owned Vehicle Endorsement may not be relevant in this specific context, as it applies to vehicles that are owned and not leased. Similarly, the Leased Vehicle Exemption and Commercial Vehicle Coverage do not address the need for an additional insured endorsement in the way the Additional Insured-Lessor Endorsement does. Thus