When employees rent a car almost anywhere in the world and pay the full cost of the rental with a Visa Corporate Card, collision/loss/damage insurance coverage is provided at no additional cost by the Visa Auto Rental Collision/Loss Damage Insurance program – a saving of approximately $20/day. Collision/loss damage insurance pays the full cost of repairs up to the actual cash value of the rental car should an employee become involved in an accident or should the car be stolen, regardless of responsibility for the damage. It also reimburses the rental company for any loss of use while the damaged car is being repaired.

While employee misuse is rare, with Corporate Liability Insurance (CLI) a company’s liability will be waived for certain unauthorized charges (purchases and cash advances) made by its employee cardholders.

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