| 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 |
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| 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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