Commercial Rental Auto Insurance
Customers rely on rental car companies for insurance coverage when their credit card or personal auto policy does not cover auto rental. But who takes care of your insurance? Do you have the right protections in place?
Does Business Insurance Cover Rental Cars?
You may think you’re covered if you have general business insurance, especially if car rental is only part of your service offerings. General business insurance may not have a comprehensive commercial plan or not enough coverage for your needs. Bodily injury and property damage liability coverage, as well as other coverage, may be needed. In addition, your insurance needs to cover you even if one of your cars is in a catastrophic accident where the settlements may be substantial.
What Is Auto Rental Insurance?
Car rental companies face considerable liability and need more insurance as well as different coverage than most other businesses. Commercial auto rental insurance is designed specifically for these types of companies. You may want to consider a comprehensive commercial plan. You may need coverage which includes:
- Bodily injury and property damage liability: This protects you if someone is injured in one of your rental cars and sues both your business and the other driver.
- Personal injury protection: If one of your customers is injured, you want to be protected in case you are sued.
- Uninsured and underinsured motorist coverage: If a customer is in a collision with a driver who does not have coverage or enough coverage, this protects you and ensures your policy can cover resulting damage.
- Commercial property coverage: Comprehensive and collision protection ensures you are covered if your cars are damaged in crashes or due to fire, theft or vandalism.
- General liability: This coverage protects you in case there is a collision in your parking lot or someone falls in your office. It is a requirement for doing business.
- Workers' compensation insurance: If you have any employees, this coverage is mandatory by law. It protects you and your workers if one of them is injured while performing work duties.
- Business income and extra expense: This optional coverage helps you make up lost profits if your business is closed for a catastrophe.
- Theft coverage: Optional plans including money and securities insurance and employee dishonesty insurance help safeguard your business against embezzlement and general theft.
Where Can I Get Insurance for My Car Rental Business?
Kokkoris Insurance Services understands car rental businesses and has a dedicated team committed to your best interests. We already work with many top tourism and hospitality industry businesses. Our exceptional support, outstanding customer service and superior pricing have made us the choice for companies with higher risks and unique needs.
Kokkoris Insurance Services offers a free quote and a careful evaluation of all existing coverage points. Find out why car rental companies choose us to help them get the right insurance at the right price. Get an estimate today or call us at 718-728-0606 to discuss your needs.
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Get in touch with our team right away by phone or email so that we can start on finding you the right insurance solutions!