Understanding Coverage on the TeqMobility Platform
How Off-Rent and On-Rent coverage work and what TeqMobility’s role is.
Overview
TeqMobility is a mobility technology platform that facilitates access to coverage made available through insurance policies issued and administered by licensed insurance carriers. TeqMobility is not an insurance company or insurance agency.
What Is Off-Rent Coverage
Off-Rent Coverage refers to protection provided under a policy issued to TeqMobility by a licensed insurance carrier. TeqMobility facilitates access to this coverage through its platform. Coverage is subject to policy terms and eligibility requirements.
What Is On-Rent Coverage
Refers to periods when a vehicle is actively rented. During these periods, coverage may apply through a licensed insurance carrier under an applicable carrier-issued policy, subject to policy terms, conditions, and exclusions.
How Coverage Works on the Platform
Coverage on the platform is structured so that approved Off-Rent Coverage must be active and carrier-approved before a request for On-Rent Coverage can be submitted to the carrier. All coverage is issued and administered by a licensed insurance carrier under a policy held by TeqMobility.
Carrier-Issued Policy Explanation
All coverage referenced on the TeqMobility platform is issued and administered by a licensed insurance carrier under a policy held by TeqMobility.
TeqMobility is not an insurance company or insurance agency and does not sell, underwrite, or advise on insurance. The platform facilitates administrative access to coverage made available under the carrier’s policy. Coverage availability, limits, deductibles, and claim determinations are governed solely by the policy terms, conditions, exclusions, and eligibility requirements set by the carrier.
Required Relationship between On Rent and Off Rent Coverage
Eligibility for On-Rent Coverage requires approved Off-Rent Coverage to be in place. Carrier-approved Off-Rent Coverage establishes the baseline eligibility for a vehicle on the platform.
During active rental periods, insurance coverage may apply under an applicable carrier-issued policy. Outside of active rental periods, coverage availability is governed by the Off-Rent Coverage terms. All coverage is subject to policy terms, conditions, and ongoing eligibility review.