Compare Car Insurance Companies That Offer Insurance for Car Rental Businesses [2021]

When searching for car insurance quotes from car insurance companies that offer insurance for car rental businesses, your rental car insurance is going to depend on a few important key factors: the size of your fleet, how old your vehicles are, what condition they're currently in, and the value of any equipment they come with. It is important to remember these factors when looking to buy car insurance from a car rental business insurance company.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Sep 30, 2021

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Here's What You Need to Know

  • The annual price on your policy will depend on some factors like the number of cars in your fleet, the type of vehicles you have, the condition, age and value of your vehicles, and any equipment or accessories your vehicles have
  • Other rating factors might include: your business location, size and number of your employees, and the size of your business
  • If you can bundle some of the more general policies, you may be able to save on costs by paying a single rate versus multiple

Owning a car rental businesses require many different types of insurance. Not only will you need to find car insurance companies that offer insurance for car rental businesses for liability auto insurance coverage, but also other coverage. Workers’ compensation insurance (among a few other types) is required for nearly every business, especially when you have employees working for you.

Owning a fleet of cars, and figuring out what and how much insurance you’ll need, can be a bit of a daunting subject. Because no matter the industry, if you’re a business owner, having the right kind of insurance coverage is vital to protect your operation from the unexpected.

Keep reading to find out more information on where to buy car insurance for car rental businesses. By entering your ZIP code in our easy-to-use tool, you will be able to compare insurance companies for free today.

What are some car insurance companies that offer insurance for car rental businesses?

When it comes to owning your own business, it’s important that you are able to protect your assets as well as the people that are working for you. By having the right type and right amount of coverage, you’ll have the peace of mind of running your business without having to worry.

According to a recent study, there are currently more than 5.4 million fleet cars in service in the U.S. Of these fleet cars, about 1.7 million are rental cars.

When researching car insurance quotes from car insurance companies that offer insurance for businesses that rent cars, you’ll first need to consider how big you want your inventory to be.

Evaluating the type of fleet you want will largely dictate what kind of insurance you need, how much it will cost, and what the best insurers are for you to consider.

Lancer Insurance

Lancer Insurance is a specialty insurer offering commercial car insurance, and liability coverage, for small businesses across the country. Lancer’s commercial car insurance coverages are designed to meet the distinctive needs of any car rental businesses without breaking the budget.

Its commercial liability coverage covers the following:

Lancer Rental Car Coverage
Commercial LiabilityWhat It Covers Additional Info
Bodily Injury and Property Damage LiabilityCompensates those injured in an accident involving an insured vehicle, or pay for damages to another vehicle.Up to $1 million Combined Single Limit (CSL) in bodily injury and property damage coverageApplicable to: Personal Injury Protection (PIP), Uninsured Motorist Coverage (UM), Underinsured Motorist Coverage (UIM)
Physical Damage (Comprehensive & Collision)Collision — Covers repairs or replacement to your insured vehicle resulting from an accident involving other vehicles or stationary objectsComprehensive — Pays for damage to your insured vehicle from fire, theft, vandalism and other covered perilsDeductibles starting at $1,000
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Additionally, general liability coverage is offered as well. Protection for your facility, office areas, parking areas, outside storage facilities and vacant land are all covered under this policy.

Lancer offers exclusive products to help reduce the costs of your rates. Policyholders have access to a 24/7/365 claims hotline for a streamlined service is the event of a loss of your vehicle or serious injury.

Other complimentary products include:

Easy-to-use accident and claim reporting aids:

  • Accident report forms
  • Emergency procedures visor cards for your customers
  • SafetyLink Hotline: a complimentary policyholder-exclusive service to help you get answers or additional information on safety and regulatory issues
  • Safety Stop: Lancer’s blog for valuable information, how-to’s, regulatory updates, and more to help you run a safer and more profitable business
  • Complimentary 24/7 online access: to helpful safety and loss prevention resources
  • The Right Driver Every Time: CSR Training Video
  • Special Alert!: important time-sensitive information for the auto rental industry
  • Featured articles and presentations that highlight issues that impact the auto rental industry and offer best practices to help you reduce your potential for loss
  • Loss Recovery Program: Lancer’s claims team will help you recover out-of-pocket and down-time expenses, including your deductible, whenever another party is at-fault for an accident or loss at no additional cost

Because these policies can involve complex rating factors and each rental company will look different, each unique rating is done by outside insurers to ensure accuracy.

For consumers who are looking for car insurance rates for car insurance companies that offer insurance for car rental businesses, Lancer is a great option.

Zurich Insurance

Zurich provides commercial vehicle insurance (including liability and physical damage coverage) for customer service fleet rental enterprises of any size.

It is one of the leading providers of insurers for rental car insurance, bringing over 25 years of experience to the businesses as the largest provider of property-casualty insurance to the franchised commercial fleet industry.

Zurich offers both liability and physical damage insurance.

Zurich Rental Insurance
Liability InsurancePhysical Damage
Financial responsibility limit: state-mandated liability coverage for at-fault bodily injury and property damagesSpecified perils: fire, lightning, windstorm, hail, earthquake, flood explosion, theft, vandalism, sinking, burning, collision or derailment transporting covered auto, and more
No-fault personal injury protection (PIP): coverage for economic losses for injuries caused by automotive accidents, regardless of who was at faultCatastrophic: protects large fleets from occurrences such as hail, wind or tornado; applies to all forms of physical loss except collision, overturn and conversion
Owner limits: insurance protection for bodily injury and property damage liability resulting from ownership, maintenance or use of covered automobiles
Underinsured motorists: coverage for losses due to a negligent third party lacking sufficient insuranceCollision: damage to insured vehicles due to colliding of an automobile (stationary or moving) with any object (stationary or moving), including overturning (upset) of insured auto
Uninsured motorists: coverage for losses due to a negligent, uninsured third partyComprehensive: losses to covered vehicles or their equipment from any cause of loss except collision with another object or its overturn, conversion/trick and devise, or exclusions such as rust, vermin and depreciation
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The average cost of Zurich’s commercial insurance policies ranges from $47/mo. to over $179/mo., and will be mainly based on your business’s: industry, location, gross sales, employees, payroll, policy limits, endorsements, deductibles, experience and claims history.

It offers a comprehensive range of insurance and risk management product solutions at competitive pricing while ensuring quality standards for customer service and world class efficiency.

Zurich Fleet Insurance
Zurichna Provides 
24/7 Fleet Management PortalSecure access 24 hours a day, seven days a week, with automated premium calculation, online and eZPay payment options, tips and resources
Claims Capabilities and CommitmentWe’re ready to respond, with a 24-hour claims reporting hotline, online claims services, a Major Loss team and an ability to subrogate claims
Managing Risks to Help Reduce LossesZurich’s Risk Engineering team offers valuable tools, services and training tailored for automotive rental operations
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Additionally, Zurich also provides workers’ compensation coverage, business interruption coverage, equipment insurance, and office contents coverage.

These additions are all offered under Zurich’s general liability coverage insurance.

Additional Insurance Companies

Affordable car insurance from car insurance companies that offer insurance for car rental businesses are going to come in many different shapes and sizes.

Since covering your fleet is going to look different depending on the size and type of cars you have, you’ll have the advantage of plenty of options when it comes to policies.

Here are some additional providers:

  • CoverWallet: is an inline platform that sells business insurance through its agency partners and helps keep policy information in one cloud-based location
  • The Package Group: employs a team of insurance professionals that specialize in transportation industry insurance products, including rental fleet insurance and business auto insurance
  • ARRC: provided access to auto fleet insurance including commercial auto liability and physical damage programs at group rates through our master fleet insurance policies
  • Period X: a unique insurance product created to meet the needs of anyone who is renting a single vehicle or fleet on any ride share platform and needs a garage policy to cover minimum coverages
  • Period X Fleet Insurance: comes with perks such as an in-car device for each vehicle, and a web-based app to track every vehicle; this coverage, once implemented, ensures that no rental vehicle is ever in a period without coverage as long as the platform you are renting on provides insurance to the renter
  • Nationwide: offers comprehensive commercial fleet coverage through its auto policies and also provides dedicated solutions for auto service and repair businesses
  • Allstate: in addition to its general business insurance offerings, provides specific coverage options for rental service businesses, including auto coverage

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What type of insurance coverage do I need for my car rental company?

Your car rental insurance will need to have enough coverage to protect the business itself, not just your inventory. As with all businesses, each specific type of insurance and the kind of coverage you get will depend on your individual operation.

Types of coverage you should consider:

  • General liability insurance: all businesses should have general liability insurance; this will protect your business from any third-party claims, such as bodily injury, property damage or advertising injuries. Overall, your general liability insurance should cover your car’s rental business if a third party is injured in an accident involving one of your rental cars
  • Commercial property insurance: although commercial property insurance doesn’t typically cover the damages or a loss of any commercial vehicles, it will cover the damages, loss or theft of any other property or equipment your business owns
  • Business interruption insurance: this insurance (often also called business income insurance) covers income that you lose as a result of a disaster that forces you to slow or stop operations
  • Workers’ compensation: if you have employees, you’re required by law to have workers’ compensation insurance. Worker’s compensation will cover your employees if they’re hurt on the job, including paying medical expenses and a portion of their salary while they’re out of work
  • Excess liability insurance: this is typically applied to a general liability policy, to increase your coverage limits in the case that you surpass the amount on your regular policy. With a car rental business, they generally poses more of a risk than other businesses, so excess liability insurance might be particularly useful to have for these cases

If you have the option to bundle some of your more general insurance policies into a customized policy, you may be able to save on costs by paying a single rate instead of multiple.

Generally, the more policies you require and the more comprehensive the coverage, the higher your costs will be.

Car Insurance Companies That Offer Insurance for Car Rental Businesses: Key Takeaways

It’s difficult to determine how much car rental business insurance will end up costing you. Compared to many other small businesses, you’ll likely find that your insurance costs are on the higher end of the spectrum.

Considering the risks associated with rentals and driving, you’ll want as much coverage as possible. But ultimately, it’s up to you to decide what type of rental car business insurance coverage is right for you.

Lancer is a great option for those who want to save on comprehensive car insurance, and get the many perks that come built in with its policies.

Zurich is another great option for consumers who need the backing of a strong company that’s been in the game for decades and understands the in’s-and-out’s when it comes to rental car business insurance.

Now that you know which car insurance companies offer insurance for car rental businesses, take the time to enter your ZIP code in our free, and easy-to-use tool and start comparing quotes in your area today.

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