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Rental car insurance works the same way as regular auto insurance: you pay a certain amount of money in exchange for an insurance company’s agreement to cover losses and claims up to an agreed ...
Uber Carshare was an Australian company that facilitated peer-to-peer car rental, a system by which individuals may rent privately owned vehicles [1] [2] on an hourly or daily basis to other registered users of the service.
Damage waiver (DW) or, as it is often referred to, collision damage waiver (CDW) or loss damage waiver (LDW) is a term that can be included or purchased as an option in a car rental agreement, by which the rental company waives the right to pursue compensation from the renter if the vehicle is damaged or stolen. [1]
This coverage, however, cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured's vehicle, assuming that a rental car may be worth more than the insured's vehicle. Most rental car companies offer insurance to cover damage to the rental vehicle.
Car rental companies offer four types of vehicle insurance: liability insurance, collision damage waiver, personal accident insurance, and personal effects insurance.
Inshur, which works with companies like Uber to offer AI-enabled vehicle insurance, has raised $19 million in funding. Inshur provides embedded insurance to ride-hailing companies like Uber.
This option, but not the obligation, to acquire the car after a period equivalent to a contract hire is therefore packaged as either an option (in law) to purchase the car (a call option) at a 'set' price, or a right to sell the car (a 'put' option) at a set price after ownership is fully achieved from the final ‘balloon’ payment.
The short answer: In most cases, you likely don't need to purchase additional coverage for the rental car if your own car insurance policy adequately covers you and the rental. Your existing ...