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Total payout per claim: There's usually a maximum amount the insurance company will pay for a rental car per claim. This could be a fixed amount or a daily rate multiplied by the maximum number of ...
Because rental cars are considered used vehicles, there are plenty of financing options available. Rates for a used car sat at an average of 11.35 percent in the third quarter of 2023, according ...
Automotive warranty. An automotive warranty is a guarantee provided by a vehicle manufacturer or a third party, ensuring that any defects or issues with a vehicle will be repaired or addressed within a specified period after purchase. [1] This warranty is most often an important aspect of purchasing vehicles since it provides buyers with ...
Renting a vehicle comes with the inherent risk of an accident. Car rental insurance, available at the rental counter, can help offset these fears by providing coverage in the event of an accident ...
Vehicle title branding is the use of a permanent designation on a vehicle's title, registration or permit documents to indicate that a vehicle has been written off due to collision, fire or flood damage or has been sold for scrap . The designation or brand is mandatory in most provinces and states in North America when an insurer or vehicle ...
Damage waiver. 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]
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 ...
Warranty. In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects. [1] In property law, it refers to a covenant by the grantor of a deed. [2] In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured.