How is Insurance Made in Car Rental Transactions?
For vehicle owners, insurance is applied as a one-time payment or in installments of the price determined for its use, covering a certain period of time. The cost of insurance is determined over the market value of the vehicle. Vehicle insurance differs considerably in car rental transactions. In general, it is possible to list the necessary information about rental car insurance as follows:
Rental car insurance is out of service use. This situation differs according to the tariffs offered for the vehicles requested.
The insurance payment amount for rental vehicles is calculated by deducting the exemption amount over the calculated percentile of the vehicle price. The exemption fee is generally reflected to the user.
Due to the fact that rental vehicles consist of different persons with the right of use and the right of movable property, they are priced above the normal motor insurance price.
Car insurance is among the mandatory procedures in car rental transactions. It is seen that the offer is included in the service packages.
Rental car insurance starts with the receipt of the service. It is not stated separately that the service provided is valid within the period specified in the contracts.
Rental car insurance varies according to the risk ratio of the person requesting the service. The risk ratio is determined according to the use of automobile insurance, the rate of being involved in an accident or the experience of vehicle use.
When Does Rental Car Insurance Apply?
It is seen that the rental car insurance is valid throughout the service usage period. With the expiration of the service period, the insurance contract of the user who rented the vehicle expires. The corporate contract, which is an indefinite insurance contract, comes into effect. However, the rights and benefits arising from the corporate contract do not bind the user. The conditions for applying the insurance in car rental transactions can be listed as follows:
The exemption fee is determined according to the accident fault rate of the user. The first step is to ensure that the person driving the vehicle has a driver's license and that his driver's license has not been seized for any reason.
The person using the rental car services and the driver of the vehicle must be the same person. It is stated in the policy and the contract that the right to use belongs to the driver. In case the persons consist of different persons, the resulting damage is reflected to the person requesting the service.
If the vehicle is involved in an accident, the supporting documents must be prepared and presented. Evidence documents consist of written and visual materials. With the acquisition of these elements, an accident report is created.
In the event of an accident, if more than one vehicle is involved in an accident, each user has to draw up the same accident report. If there is a difference between the accident reports, the accident report is deemed to have never been drawn up.
With the end of the car rental period, the insurance policy of the user also expires. At this point, it is seen that rental services consist of two separate insurance.
Vehicle insurance is generally realized without any legal force in line with the wishes and demands of the users. However, it is seen that it is among the compulsory products for commercial or rental vehicles. It is similar to car insurance. Basically, the difference is that car insurance is compulsory for every vehicle and the payment amounts are low in case of any accident or unwanted situations.
