The hours and days after an accident can be incredibly overwhelming for a vehicle owner. Being without a vehicle can significantly disrupt day-to-day life. For insurance professionals, ensuring a seamless claims experience is essential for customer satisfaction, and one key offering makes a major difference- rental reimbursement coverage. This often-overlooked optional add-on can be a deciding factor in customer retention and satisfaction. In fact, Enterprise data found that 59 percent of drivers would be willing to pay more to ensure their out-of-pocket costs are covered during a claim.
When a customer’s vehicle is in the shop for repairs, they expect to stay mobile. According to the latest Length of Rental data from Enterprise, it can be close to 17 days for collision related repairs. Rental reimbursement coverage helps cover the cost of a rental car, minimizing the inconvenience and reducing frustration during what can already be a stressful time.
However, it’s not enough for a policyholder to have coverage, they expect to have the right level of coverage for a vehicle that will help them maintain their lifestyle during a repair. The more out-of-pocket a policyholder with rental reimbursements coverage pays, the less satisfied they are with their provider.
Did you know:
- Only 41 percent of eligible policyholders have rental reimbursement coverage.
- 42 percent of drivers with rental reimbursement coverage still have out of pocket expenses.
- 60 percent of policyholders with rental reimbursement coverage learned about it through their insurance agents.
Insurance professionals play a key role in educating their policyholders about the importance of rental reimbursement coverage. And now offering this coverage just became easier! A new continuing education course on rental reimbursement just launched. This class was developed to help insurance professionals stay informed with the latest knowledge and best practices regarding rental reimbursement.
Enterprise has partnered with A.D. Banker & Company, the nation’s premier education provider for insurance professionals, to provide licensees access to a continuing education course in either an online or webinar format. The courses discuss rental reimbursement coverage as it relates to the following:
- Pertinent automotive claims statistics
- Current client challenges & impact on customer satisfaction
- Policy and endorsement language provisions
The best part? The course is completely free to insurance professionals. Don’t miss this opportunity to enhance skills, provide value to policyholders and stay ahead in the industry.
Sign up today and start learning how rental reimbursement coverage can improve customer satisfaction!
About Enterprise Mobility
Enterprise Mobility is a leading provider of mobility solutions including car rental, fleet management, flexible vehicle hire, carsharing, vanpooling, truck rental, luxury rental, retail car sales and vehicle subscription, as well as other transportation technology services and solutions, to make travel easier and more convenient for customers. Enterprise Mobility, inclusive of its subsidiaries and franchisees, and affiliate, Enterprise Fleet Management, manage a diverse fleet of more than 2.4 million vehicles through an integrated network of over 9,500 fully staffed neighborhood and airport rental locations in more than 90 countries and territories. Privately held by the Taylor family of St. Louis, Enterprise Mobility manages the Enterprise Rent-A-Car, National Car Rental and Alamo brands.
*2022 Enterprise Rental Reimbursement Study with Qualtrics
Author: Enterprise Mobility (IAIP Partner)
About Enterprise Mobility
Enterprise Mobility is a leading provider of mobility solutions including car rental, fleet management, flexible vehicle hire, carsharing, vanpooling, truck rental, luxury rental, retail car sales and vehicle subscription, as well as other transportation technology services and solutions, to make travel easier and more convenient for customers. Enterprise Mobility, inclusive of its subsidiaries and franchisees, and affiliate, Enterprise Fleet Management, manage a diverse fleet of more than 2.4 million vehicles through an integrated network of over 9,500 fully staffed neighborhood and airport rental locations in more than 90 countries and territories. Privately held by the Taylor family of St. Louis, Enterprise Mobility manages the Enterprise Rent-A-Car, National Car Rental and Alamo brands.