Many companies struggle with insurance when their employees rent vehicles for work related purposes. Should vehicle insurance coverage be taken with the rental company? Is coverage provided through the corporate insurance program? And what about paying with a corporate credit card, would this provide sufficient insurance coverage? Should the guidelines be the same if a vehicle is rented in the United States, and what about overseas?
Purchasing insurance for short term leased vehicles can become confusing and quite expensive as well. You need to make sure that you are properly insured and at the same time, you will want to avoid any duplication in coverage. In order to answer these questions, please find attached Globalex's template for a corporate Vehicle Rental Policy and Best Practices. We hope this document will be useful and please do not hesitate to contact us should you wish to further discuss how this policy can be specifically tailored to the needs of your organization.