Car rental - insure your own vehicles? is is possible?

HI, I work for a car rental company and we insure our vehicles through an insurance compnay, nothing strange about that... I was wondering though if it was possible to go selfassured and cover the liability? I hear many huge companies with large fleet cossing this option, but do not now how to go about it... any ideas would be appreciated.





ThanksCar rental - insure your own vehicles? is is possible?
You will find this website useful http://www.up2ugroup.com/faq.aspx#36





They seem to arrange these schemes. One common factor seems to be that you have to make a substantial cash deposit to cover most risks and need sufficient business equity to cover the worst case loss situation.Car rental - insure your own vehicles? is is possible?
In almost every state you can self insure by posting a bond with the states DMV equal to the minimum required liability insurance. Your states DMV website should have instructions.





In California for example,


Types of financial responsibility


* A motor vehicle liability insurance policy


* A cash deposit of $35,000 with DMV


* A DMV issued self-insurance certificate


* A surety bond for $35,000 from a company licensed to do business in California.





For information regarding cash deposits, or self insurance, please contact:





Department of Motor Vehicles


Financial Responsibility MS J237


PO Box 942884


Sacramento, CA 94284-0884


(916) 657-6520

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