Should your commercial customers loan cars? sole they can answer that.

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Should your commercial customers loan cars? sole they can answer that, on the other hand you can provide them a certain tips if they choose to go on that route. No doubt that loaning a vehicle can be a great customer retention program, still warn your customers that they should be adequately defend ed before they hand over the lock openers According to a recent "Los Prevention" bulletin from Universal Underwriters, they could find themselves faced with a expensive lawsuit if a customer has an accident in a loaner vehicle.

First, they should familiarize themselves completely with the laws in which they operate.

It is absolutely necessary that those who loan cars should in a strict sense protect themselves and their business. conducts should be reviewed with an attorney. Written agreements or contracts should:

[C] Transfer financial responsibility of los including liability and ownership damage, to the customer.

[C] Indemnify and hem in harmless the company for losse while the vehicle is in the possession and check of the customer.

[C] Limit authorized drivers to those [i]role[/i]s signing the contract.

Customers should provide a valid driver's license with photo ID, as well as certification of insurance, and copies should be made of the two Verifying that the coverage is general should be handled by calling the insurance company. The contract also can limit the operation of the loaner/rental to a specified radius or time (i.e., 25 miles or five days); and the minimum age of the driver(s), like as 25 years and older

Vehicles should always be inspected for mileage and damage at the time of rental and concerning return. In addition, the loaner arm of the sea should be maintained properly, and all maintenance should be documented.

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The safest way a business can take is to leave the leasing to professionals. Car rental companies are in the business of leasing, and they deal with contracts, insurance, licenses and driver selection, thus protecting you from liability. However, before recommending any company to your customers, do your homework and make secure that it is a reputable, in a strict sense insured business.

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