What Does Casco Do?
Insurance is a service that covers the repair costs for vehicles involved in accidents, as well as compensation for non-pecuniary damages such as injury or death. While compulsory traffic insurance only covers expenses for the other party, automobile insurance offers a more comprehensive range of services.
What Is a Rent a Car Insurance Policy?
As car rental habits continue to grow for both business and private reasons, the number of car rental companies is also increasing. Rent a car insurance, which is among the legal responsibilities of these companies, covers damages to rented vehicles in the event of an accident. The coverage amount and specifics vary depending on the agreement and the company.
What Is the Difference Between Rent a Car Insurance and Standard Insurance?
The most noticeable difference between standard insurance and rent a car insurance is cost. Due to the high turnover of vehicle drivers, rent a car insurance often comes with different pricing policies. Both types of insurance, however, include coverage for various costs associated with accidents, material damage, and moral damages.
Rent a car insurance is subject to specific terms. Since the rented vehicle is used by different drivers at short intervals, minor damages typically do not have material or moral compensation. Generally, the deductible included in the policy ranges from 3% to 5%. The amount to be paid is determined based on these rates. For example, if a vehicle worth 200,000 TL has a 3% deductible, 3% of the 200,000 TL is not covered by the insurance. If the damage exceeds this deductible, the difference is paid to the rental company. In this case, the rent a car company will charge the 3% deductible to the customer involved in the accident.
What Conditions Are Required for the Insurance to Be Valid?
As with all types of motor insurance, the basic conditions include:
- The driver must be licensed and able to present their driver's license.
- A medical report must confirm that the driver is not under the influence of alcohol or drugs.
- The vehicle must be used by the person named in the car rental agreement. Using the vehicle by someone not listed in the contract constitutes a violation of insurance terms.
- An accident report should be kept, and if necessary, a police or gendarmerie report should also be obtained.
What Are the Considerations for Private Insurance for Rent a Car Vehicles?
Rent a car insurance coverage and policy premiums are based on risk factors. Due to the higher risk associated with rental vehicles, premiums for rent a car insurance are generally higher than those for private insurance. Insurance companies may terminate coverage if the vehicle is involved in an accident while covered by both rent a car and private insurance. Legal regulations allow for this if one party gains an unfair advantage by misleading the other.
Does Rent a Car Insurance Policy Include Road Assistance and Towing Services?
Vehicles insured under a rent a car insurance policy typically benefit from towing and withdrawal services if stranded, without additional charges. Roadside assistance for breakdowns or accidents can usually be added to the policy.
Thanks to Titarus rent a car automation, you can easily track the insurance status of all your vehicles. Additionally, you can effortlessly manage accident situations, repair processes, and legal obligations with the advanced services and modules offered by Titarus.
