There are several reasons a business owner might need business rental car insurance. Whatever the reason, there are several auto rental services ready to establish a long term business relationship with you. Rather than pay auto rental services rates, why not carry your own business rental car insurance?
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If you have a transportation business or business the requires the use of rental cars on a regular basis, it makes good business sense to save by making provisions on your existing policy. If you purchase insurance at the rental agency counter, you may be paying twice as much.
Business Rental Car Insurance: The Basics
Transportation businesses usually have vehicles of their own, but it is sometimes necessary to rent a vehicle to replace one that is out of service. Other businesses that have frequent travelers may be in need of rental cars on a regular basis. In either case there is more than likely some type of existing insurance policies owned by the company.
Rental agencies offer loss damage waivers and collision damage waivers that are similar to collision and comprehensive insurance. If you already have liability, collision and comprehensive coverage, you may be duplicating what you have by purchasing insurance at the counter. The only time it is advisable to purchase rental agency insurance is if there is not enough coverage on your existing policy.
If your business should have a need for this type of coverage in the event there is no other option, in exchange for your continued business, the agency or company may be willing to put your business on a preferred customer plan. Several rental agencies have gold, platinum, or preferred member type programs that make business car rental painless and easy with concessions.
Who Needs Business Rental Car Insurance
In addition to transportation services, business executives are in need of car rentals all the time whether they are in the field or traveling to remote locations. Entrepreneurs also use business rentals regularly or periodically. Other vehicle types are rented for business purposes daily, such as:
For this reason business rental car insurance or vehicle insurance is necessary to keep the vehicles moving and the doors open.
Changing Business Rental Car Carriers
If there is a better option available that will save money and add to the budget, a savvy business owner is going to consider it. If the existing company rates are increasing with every accident an employee has, or claim for windshield replacement, maybe it is time to look at other car insurance companies.
Business rental car insurance carriers can show business owners how to save money. They can offer accident forgiveness and $100 deductible windshield replacement on all vehicles. Any incentive that meets the subscriber half way is worth considering.
You do not have to wait until your policy expires before changing carriers. You can give them 30 days written notice and establish your new policy with your new carrier. Your former carrier has an obligation to send you the unused portion of your premiums.
Business Rental Car Insurance: Your Personal Policy
It is simple for an entrepreneur who works alone or with a few employees to add business rental car insurance to their personal policy. This ensures that when business travel is necessary, you are covered without having to result to rental counter loss damage and collision damage waivers.
Larger businesses should have an existing policy for company owned vehicles. If this is the case, it is also easy to increase the amount of coverage to include business rentals. In the event of an accident your company will be saving a bundle of out-of-pocket expense.
Making Business Rental Car Insurance Affordable
Business rental car insurance can be affordable for any business if you know where to snip a percentage here and there. Business owners can start by keeping the risk to a minimum by hiring drivers with good driving records. Beefed up driver safety standards grab the attention of insurance carriers. They like multiple policies also. A company with a good credit score makes a difference in premiums as well.
Rental car agencies are always looking to build long term relationships with businesses by making the rental process fast and convenient. Members can pick up the keys and go in most cases. Although this is a great gesture, there is no need to increase their bottom line when you can increase your company’s bottom line by saving in commercial car insurance.
Business rental car insurance quotes are available today with only your zip code here.