Renting a car on a business trip?

Often the small business owner is required to travel. While on the trip they may wish to rent a car. Has thought been given to the exposures faced while driving the rental car? The following liabilities come into play- third party liability due to customer's use of rental car; liability to third parties rental company's negligence which is assumed by the customer when they rent the vehicle as part of the contract; liability for physical damage caused to rental car due to customer's negligence; and liability for loss of use due to physical damage to the rental car. As you can see, a lot of liability will rest on your shoulders when you take possession of the rental car and if you aren't properly covered then you are taking on a large risk. All car rental companies offer coverage, the problem is that most coverage only matches the minimum limits required by the state the vehicle is rented in. Many assume that their personal auto policy will provide coverage. While that is true, coverage can be rendered moot if the vehicle is being used for business purposes rather than for personal use. It's important that the business owner have coverage under their business owners commercial auto policy with the appropriate symbols providing necessary coverage. Before heading out on a trip next time make sure to contact your agent to review your commercial auto policy with you to ensure the proper coverage is in place.

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