 |
|
|||
|
|
AGENTS & BROKERS ONLY |
|
Other Sports & Recreation Insurance Programs |
Hired Car Physical Damage Insurance For Sports OrganizationsSports organizations occasionally rent vehicles for officers to travel out of state on business and for the transportation of participants. If a Non Owned And Hired Auto Liability policy is in existence, it will not respond to damage to the rented vehicle itself.  There are three options available for insuring damage to the rental vehicle:
 Â
   1. Purchase Collision Damage Waiver from the rental car
         company. This is the safest course of action to follow
         as it will often pay for 100% of damages. The cost of
         this coverage typically ranges from $15 to $30 a day.
Â
    2. Purchase Hired Car Physical Damage from the
        insurance agent of the sports organization.  Coverage
        typically costs $250 per year. However, this policy will
        not pay the following damages that are triggered by
        many rental car contracts: Â
Â
               * The difference between Actual Cash Value and
                   Replacement Cost in the event the vehicle is
                   totaled.Â
               * Loss of profits to the rental car company while the
                   vehicle is out of the fleet being repaired.
               * Diminution in resale value Â
Â
   3. Rely on credit card benefits for physical damage. The
         terms of credit card benefits vary greatly.        Â
                                                                                                  Â
Â
This is a complex area and consultation with an insurance professional is recommended prior to vehicle rental.
Â
Â
Source:Â John Sadler
Â
Copyright 2004-2009 Sadler & Company, Inc. All Rights Reserved
What do you think? |
Sadler & Company, Inc.
P.O. Box 5866
Columbia, SC 29250-5866
Phone: (800)622-7370 Fax: (803)256-4017
Send Us An Email
Copyright Notice Legal Notice Privacy Policy
DBA/AKA Sadler Insurance Agency in CA License #0B57651
Sadler & Company of SC, Inc. - Arkansas (Lic. #254179)
Sadler Agency - New York (PC-532473,LA-532473 and BR-532473)
Sadler and Company - Vermont (License #577)
DBA S&C Agency, Inc in KY (Lic. #624039)
Sadler and Company, Inc. in MN (Lic. #20499566)
S&C Agency, Inc. (Sadler & Company, Inc.) in OH (Lic. #33890)
Sadler & Company Insurance Agency, Inc. in UT (Lic. #105192)
1997-2012 Sadler & Company, Inc. All rights reserved.