Community Webinar Rental Vehicles The class will begin at the top of the hour. There is no sound at this time. This class is being recorded. The recording can be found in the Community at Webinars Archive You can ask questions at anytime, type them into the chat box. Check your chat box for links to upcoming classes. This class is not approved for CE credit. Some things you should know: 1

 Presents Monthly Webinars Free to Community Members.  Community webinars are archived on the Community homepage under the right hand tab titled: Webinar Archive 2

 In addition the community has unique business networking opportunities.  Enjoy the Weekly Newsletter on a specific topic with a tip of the week; claim; quiz flash and articles 3

 One Flat Fee per Office includes  Monthly webinars approved for CE many states  Test and Learn  Audio Presentations on insurance topics  Checklists  Power point presentations for client and/or peer training 4

Insurance forms and endorsements vary based on insurance company; changes in edition dates; regulations; court decisions; and state jurisdiction. The instructional materials provided by The Insurance Community Center and its authors is intended as a general guideline and any interpretations provided by The Community do not modify or revise insurance policy language. Information which is copyrighted and proprietary to Insurance Services Office, Inc. (“ISO Material”) is included in this publication. Use of the ISO Material is limited to ISO Participating Insurers and their Authorized Representatives. The Insurance Community Center assumes neither liability nor responsibility to any person or business with respect to any loss that is alleged to be caused directly or indirectly as a result of the instructional materials provided. Insight Insurance Consulting Copyright 2012© 5

Marjorie L. Segale, AFIS, CISC, RPLU, CIC, CRIS, ACSR, CISR Insurance Community Center, LLC Director of Education 6

 Rental car contracts  Insurance for rental cars  Renting other types of vehicles  Insurance for those vehicles 7

Rental Basics 8

Liability Require coverage Own insurance – check symbols Buy from them - primary Physical Damage Renter completely responsible Direct Damage Resultant Loss of Use Loss Damage Waiver – not Insurance 9

Why are you renting?What are you renting?Where are you renting? 10

 So, Margie, after talking to you about the auto insurance necessities in Costa Rica I have to tell you about my experience. I started going through all of the rental car policies, picking them apart, "this one only has collision," "This one doesn't cover theft," etc., etc. We are now taking the bus instead. 11

Liability Physical Damage Loss of Use Symbol 1 - ANY auto Symbol 8 – “You” Check contract No standard endorsement – check company form 12

Larger Clients Set up commercial account with rental agency Hired Auto Endorsement Applies primary coverage for rental vehicle and covers the rental car company Employee Hired Auto Endorsement Changes policy language to allow employee to rent vehicle and retain coverage 13

Includes Temporary Substitute and Non-Owned Covers theft of non-owned and loss of use Can increase loss of use by endorsement 14 Must be a vehicle with four wheels and not for off-road use

Jet Skis Watercraft Snowmobiles Motorcycles ATVs 15

 Homeowner’s?  Miscellaneous Vehicles Insurance?  The rental vehicle company? 16

 Hearing that a client is thinking about setting up a Captive can be disconcerting  Does NOT mean that you will lose the account  Any professional Captive manager (usually an attorney) will ALWAYS tell your client that the Captive should not be used to substitute for normal insurance coverages, particularly for smaller companies 17

 Laurie Infantino    Marjorie Segale  

 Community Lecture  February 9 th  5 Hiring Mistakes: Hire the best!  The Link is in Your Chat window Now  University CE  January 25 th. Commercial General Liability  February 8 th. Builder’s Risk  February 14 th. Voluntary Benefits 19