Vehicles Rented, Leased or Chartered

Vehicles Rented, Leased or Chartered

Attached to Policy FIN–INS–01

Scope

This is applicable to all units, all campuses.

Procedures

Renting, leasing or chartering means of public conveyance like buses, other than rental vehicles available through National or Enterprise Rent–a–Car Services, is contingent upon the rentor/lessor having acceptable insurance coverage.

1. A certificate of insurance must be mailed, faxed or emailed to and approved by the Office of Insurance, Loss Control & Claims (INLOCC) before the trip takes place. (2805 E. 10th St., Bloomington IN 47405, FAX: 812-855-9320 Attn: Kutina England, kudavis@iu.edu )
2. The Trustees of Indiana University must be named as an “additional insured”.
3. The certificate holder must be The Trustees of Indiana University c/o the above address.
4. The certificate must show at least 30 days advance notice of cancellation.
5. For buses, the minimum amount of coverage for vehicle liability per accident is $2 million.
6. For other vehicles, the minimum amount of coverage for vehicle liability per accident is $1 million.
7. Contracts must be processed through Procurement Services.

Pre–approved Charter Bus Companies

Sanctions

Failure to follow this policy will result in the withdrawal of permission to rent, lease or charter vehicles on behalf of the University.

History

This policy was established on June 21, 2007.

Last reviewed: 11-24-2015 and combined into omnibus policy FIN-INS-01.