Most states require businesses that have employees to carry workers compensation coverage for them.

What type of insurance do i need for a car rental business. In order to be covered for liability and personal accident insurance your Ontario auto insurance policy needs the OPCF27 liability for non-owned automobiles endorsement to be transferable to a rental car. OPCF27 allows you to drive a non-owned automobile. Here is a look at the four different types available.

The most common types of rental car insurance are liability collision damage waiver personal accident and personal effects. Ii Your credit card may include free collision damage coverage but credit card rental car insurance is typically secondary. You are a high-risk driver and it is not worth another claim.

Collision damage waiver CDW. Look for similar coverages in your home province. Most people that usually start this business usually go for Limited Liability Companies.

Your commercial fleet insurance will be the policy that actually protects the core. Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your car rental business is sued. The most common business structure types are the sole proprietorship partnership limited liability company LLC and corporation.

Also called loss damage waiver LDW. Car rental services should have a comprehensive commercial auto plan. Normally rental cars come with three basic types of cover.

The best way to find out what type of insurance youll need is by speaking with a reputable agent who has experience with commercial insurance. Rental car insurance costs 61 per day on average but it depends on how much coverage you purchase and where youre renting the car. Rental companies typically offer four types of auto insurance for the vehicle you rent.