Insuring the Rental Car

Overview

Proper coverage for a rental car is not a simple issue. Most personal auto policies, when written on a standard basis, provide some automatic coverage, but few cover all the exposures involved. There are tremendous variations among various insurers’ policies, so the agent who represents more than one company must track the coverage each company provides. And, because some states dictate the coverage that must be extended to a rental vehicle, the coverage provided by a given insurer can vary from state to state.

This course covers many of the relevant factors that will enable the insurance professional to make an informed recommendation when dealing with clients’ questions about rental care insurance coverage. This course will review exposures and insurance options available.

Learning Objectives

Upon completion of this course, students will be able to:
  • recognize and explain the extent of coverage in standard personal auto policies
  • describe the loss damage waiver and other optional coverages typically available from the auto rental company and their limitations
  • understand the types of rental car coverage commonly provided by credit card companies
  • identify the insurance-related exposures associated with ridesharing and peer-to-peer rentals
  • explain the factors to be considered when making appropriate recommendations to a client who wants to know what to do about insurance on a rental car

Designed For

P&C insurance producers, brokers, and adjusters at any level in their career
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