What type of insurance do you need for car hire business?

bizleads

My friend is trading cars and wants to rent few of them out on short term and long term basis to anyone interested. His main concern that cars can be stolen. What type of insurance does he need to operate car hire business to prevent theft?

ironclaw

Open driver fleet insurance should cover it. However, if there is a monetary transaction e.g. They pay for the use, then its a business and different rules apply. Only people that can tell you in an underwriter and it would depend on the fleet in question e.g. High End, Performance.

bizleads

Thank you for your answer, it will be used cars and people would pay for hire

antoinolachtnai

I don't think anyone is going to insure your friend for people not bringing back cars they have hired, if that is what you mean by cars being stolen. That is really something the operator will have to manage, rather than something he/she can insure for. I could be wrong though.

Graham

bizleads wrote: »

Thank you for your answer, it will be used cars and people would pay for hire

He should probably go and talk to an insurance broker, preferable one that works with commercial/fleet insurance.

pedronomix

car hire insurance is a specific cover not the same as fleet insurance where the drivers are named on the policy and vehicles nominated at defined intervals. . You need a specialist broker