Vanpool Insurance Needs

A close up look at traditional insurance and the

ADVANTAGE Self-Insurance Pool Program

Insurance TypesFamily Auto Policy Plan – not recommended,

not enough coverage

Commercial Insurance – good choice, need a minimum of $1 million of coverage plus comprehensive and collision

Self Insurance Pool Program – good choice, need a minimum of $1 million of coverage plus comprehensive and collision.

Lancer Insurance FeaturesTraditional full service insurance company

Provides vanpool driver training tapes and

other items

Provides driver background checks

Coverage Limits range from $100,000 to $5

million

Contact - http://www.lancer-ins.com/

ADVANTAGE Self Insurance Pool Program FeaturesA self-insurance pool that provides limited liability protection

Provides $1 million of liability protection per person per claim.

Provides up to $15 million of liability protection per vanpool.

Cost includes comprehensive and collision with a choice of deductibles

Website oriented – self service

ADVANTAGE Self Insurance Pool Program FeaturesCost Calculator

Roadside assistance

Division of Risk Management staff assistance at no cost to the operator

ADVANTAGE Self Insurance Pool Program FeaturesTraditional claims agency is used

Vanpool pays no traditional insurance company overhead.

State attorneys defend Advantage members in court

ADVANTAGE Self Insurance Pool EligibilityOpen to all Virginia Vanpools that are

registered with a Virginia TDM agency

All vanpools must come through the George Washington Regional Commission

Program is operated by the Virginia Division of Risk Management, DRPT and GWRC

Advantage – How does it work?Advantage members join the pool and pay

“membership” dues instead of premiums

The membership dues are deposited into a pool at the Virginia State Treasury. The pool continues to grow and pays for any incidents and claims.

The pool was started with $500,000 of seed money from DRPT.

ADVANTAGE – How does it work?Vanpool Operators who want to join contact

GWRideConnect.

Operators can register their vanpools into the program through the Advantage Website.

Invoices, insurance information and glove box cards and manuals can be downloaded.

DRM staff is available to assist at any time.

Why ADVANTAGE?Advantage provides the highest level of liability

protection available

Advantage provides a cost savings to the operators

Lancer Insurance lowered their rates to match Advantage’s rates

Advantage is protected by DRM and the State

www.advantagepool.org