License
Each franchise, company and corporation renting cars needs to secure a license from the Insurance Commissioner to provide renter's insurance.
License Application
A rental company files a license application with the Insurance Commissioner to become a rental agent. Licenses are renewed every two years.
Costs
At the time the application is filed, the leasing car company pays a license fee. A license fee is paid again for every renewal.
Disclosures
A rental agent gives out a brochure using the company name and insurance company's name in clear as well as conspicuous writing. A copy of the rental agreement is directed at the renter.
Training
For each insurance product sold, some training materials used to train the employees who endorse a renter's insurance are delivered to the Insurance Commissioner. Endorsees are trained each time an item is changed; training has to occur not less often than each 24 months.