The Covid-19 pandemic has changed our lives. It has changed your rental operations business by reducing your fleet utilization while increasing expenses to change your operations to eliminate customer touch points and provide higher levels of vehicle cleaning and disinfecting. Now more than ever, maximizing your profit from each rental contract is critical to your survival and profitability. What tools are available to help?
One of the best ways to increase revenue is by selling Counter Products to every renter. Importantly, these products add no extra expense to your operation. Incentivizing your Counter Staff to offer these coverages can increase sales and provide extra income to the employee. Adding Supplemental Liability Insurance (SLI), Rental Liability Protection (RLP) and/or Personal Accident/Personal Effects (PAI/PEC) options can easily add five to ten dollars per day to your bottom line.
Business travel may not recover until the second quarter of 2021. However, many individuals and families are ready to travel. Consumers today - not ready to fly, are renting vehicles for their pleasure trips to visit family or for a weekend getaway. Uncomfortable with ridesharing, others rent a vehicle to use instead. Additional coverage can give your renter Peace of Mind when venturing away from home in these stressful times.
Consider offering lower cost $300,000 SLI. Many customers cannot imagine causing an accident necessitating $1,000,000 liability limits. However, most can entertain the possibility of a minor accident while driving an unfamiliar vehicle frequently on new, different roads. In California for example, Financial Responsibility Limits are extremely low - $15,000 per person/$30,000 per accident and Property Damage of only $5,000. Even a simple rear-end of a “smart bumper” vehicle could easily run well over the $5,000 that the rental car company is required to provide. When properly explained, many renters will choose to add the additional protection to their rental contract. Your customer wins by being better protected, your company wins by increasing your revenue.
Contact us today to learn more or to get a quote!
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