As your customers make plans for Spring Break (and other) vacations, many may consider renting a vehicle during their trip. In the process, they may question if they should purchase the rental car company’s insurance. With some of our carrier’s it is included; with others you have to ask for coverage.
What is Rental Gap Coverage?
It provides coverage when an insured is held responsible for damage to a rented vehicle. This occurs in situations when the rented vehicle is not a total loss and the rental company opts to:
Sell the rental vehicle in its damaged condition, rather than repairing it
Repair the rental vehicle in spite of a real or perceived reduction to its value
Rental Gap Facts
Insureds no longer need to purchase the rental car company’s insurance
Only covers Private Passenger vehicles. U-haul trucks, motorcycles, etc. are not covered
The coverage is only applicable if a vehicle is rented in the United States (its territories or possessions), Canada and Puerto Rico
Rental Gap Requirements
At least one personal auto covered by the policy must include both “Other than Collision” and “Collision Coverage”
A rental contract must be present and “loaners” are not covered
Please contact us and we can talk to you and answer any questions you might have about the coverage you have.