Definitions for "Rental reimbursement"
Coverage on a policy that is typically optional. Provides reimbursement for car rental expenses incurred when a vehcile is being repaired after a covered loss. Usefulness: N/A(1 rating) by Andersen777 () Rate It! this definition is ... useful somewhat useful incorrect spam / offensive
Rental reimbursement insurance covers your costs should you need to rent a car while your car is being repaired due to an accident.
The business auto policy provides a coverage extension if an auto is insured for comprehensive or specified cause of loss coverage which insures against loss of use of a covered auto only if the auto is a private passenger type auto and is stolen. The coverage extension pays up to a daily limit of $10 and a maximum limit of $300. Payments begin forty-eight hours after the theft and end when the insured auto is returned or when the insurer has paid the insured for the auto. However for broader coverage, the insured can pay an additional premium for rental reimbursement coverage. Rental reimbursement pays the cost of renting a substitute auto for replacement of any covered auto that has suffered a covered loss. The daily and maximum limit for this coverage varies among insurers. Back to list of terms.