| As part of The First
Class Lease, what is the relationship between Mercedes-Benz
Financial and my insurance company? |
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| What kind of coverage am I
required to have? |
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| What should I do if my car
is stolen or involved in an accident? |
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| How should I handle insurance
checks for losses and repairs? |
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| What if my leased vehicle
is declared a total loss? |
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| Who may drive my car? |
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| What if I change insurance
companies? |
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| Return to FAQs Home |
|
| As part of The
First Class Lease, what is the relationship between Mercedes-Benz
Financial and my insurance company? |
| Depending on when your lease originated, DaimlerChrysler
Financial Services Americas LLC or the DCFS Trust must be listed
on your comprehensive and collision coverage as the "loss payee"
and as "additional insured" for liability coverage. Please check
your contract for the appropriate loss payee name. Please have
your insurance agent send complete documentation of all policies,
renewals or cancellations to: |
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| Mercedes-Benz Financial |
| Insurance Services Department |
| P.O. Box 1800 |
| Roanoke, TX 76262-1800 |
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| What kind of coverage
am I required to have? |
Your First Class Lease agreement requires these minimum
coverages:
- Bodily injury liability not less that $100,000 per person and
$300,000 per occurrence.
- Property damage liability not less that $50,000
- Or, a combined single limit of $300,000
- Comprehensive and collision coverage for the actual cash value
of the vehicle.
- $2,500 maximum allowed deductible. |
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| What should I do if my
car is stolen or involved in an accident? |
| All thefts must be reported to your insurance carrier and to
the Client Service Center at 1-888-445-7717. An authorized
Mercedes-Benz Dealer should repair damages. Substandard repairs
could cause charges at the end of your lease. |
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| How should I handle
insurance checks for losses and repairs? |
| Because DaimlerChrysler Financial Services Americas LLC or the
DCFS Trust is listed as the loss payee, insurance checks for
repairs should be issued jointly to DaimlerChrysler Financial
Services Americas LLC or the DCFS Trust and you. To speed up the
release of your vehicle from the body shop, promptly send
joint-payee checks, before you endorse them, to the address below.
This is the only address that is authorized to endorse these
checks. Insurance checks over certain amounts may require the
physical inspection of repairs before Mercedes-Benz Financial can
endorse the check. Please enclose the name and telephone number of
the body shop and note your account number on the check. Send to: |
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| Mercedes-Benz Financial |
| Insurance Specialist |
| P.O. Box 685 |
| Roanoke, TX 76262-0685 |
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| What if my leased
vehicle is declared a total loss? |
| The difference between the actual cash value of the vehicle
paid by your insurance company and the net outstanding balance
owed to Mercedes-Benz Financial is covered by a GAP Waiver. This
protection applies as long as your insurance is in place at the
time of the loss and your monthly lease payments are current up to
the time Mercedes-Benz Financial receives the proceeds from your
insurance company. You will also be responsible to Mercedes-Benz
Financial for an amount equal to your policy's deductible. For
more information, call our Client Service Center at (800)
654-6222. |
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| Who may drive my car? |
| Persons listed as lessee or co-lessee on The First Class
Lease® and those who are insured under your current policy and
have a valid driver's license. |
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| What if I change
insurance companies? |
| If you're renewing, canceling or changing carriers, have your
agent send a copy of your new policy or binder to Mercedes-Benz
Financial immediately at the address below. The "loss payee" and
"additional insured" names should remain the same. Cancellation
notices must be received by Mercedes-Benz Financial within 30 days
of the effective date. Send to: |
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| Mercedes-Benz Financial |
| Insurance Services Department |
| P.O. Box 1800 |
| Roanoke, TX 76262-1800 |
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