Insurance Fees

Insurance Fees

Purpose

Insurance Fees reduce the liability of the customer or driver in the event of an accident. Insurance fees, which are sometimes referred to as collision damage waivers (CDW) or excess reduction fees, are normally charged on a daily basis to reduce the insurance excess payable.

The insurance Fees that you have set up will be visible in a drop down box on the Booking Fees tab when making a booking.


Accessing the Insurance Fee tab

The insurance Fees tab is under the in the Extra Fees program within the System Setup menu.
System Setup > Extra Fees > Insurance Fees


Viewing and Adding Insurance Fees

To view any pre existing records, click on the location drop down box, select the location or all locations and then click "Select" to view the results.
To add a new Insurance Fee, click "Add Insurance".


This will open the new Insurance Fee page where you can create a new record.
The mandatory fields are marked with a red asterisk and must be entered before you can click on  "Submit" to save the record.
Once saved, the insurance option will be available for selection in the Booking Fees tab when making a booking for the locations associated with the record. 


Insurance Fees Field Descriptions

Field
Mandatory - Yes / No
Description
Add to location
Yes
The location or branch office where the insurance fee will be applied. All locations can also be selected
Insurance Description
Yes
The description or name of the insurance fee
Type
Yes
The extra fee type. Choose from three options: daily, fixed, and percentage. Daily is a monetary amount charged on a daily basis, fixed is a one-time monetary amount added to the booking fee and percentage is a one-time charge computed as a percentage of the booking fee.  Note that Insurance Fees are generally 'Daily'
Rate
Yes
The actual rate to be charged as the extra fee. The number entered here is based on the extra fee type (see "Type")
Max Price
No
The maximum insurance fee that can be charged. For example, if the insurance fee is pegged at $5 per day and the length of hire is 20 days, the total insurance fee would be $100. If maximum price is set at $75, Rental Car Manager will charge $75 in insurance fees instead of $100
Excess
No
The amount of the policy excess payable in the event of an accident
Single vehicle accident excess
No
The amount of the policy excess payable in the event of a single vehicle accident
Category Type or Vehicle Category
No
Set the category type or vehicle category the Insurance Fee will apply to or leave it set to all categories
Age of Driver From
No
The age group the insurance fee is set from
Age of Driver to
No
The age group the insurance fee is set to
Rental Days From
No
The number of rental days the insurance fee starts from
Rentals Days To 
No
The number of rental days the insurance fee goes to
GL Code 
No
The general ledger code used when posting the sales revenue to a third-party financial system. The GL code is normally a sales revenue code from the chart of accounts
Apply agency commission
Yes
If set to yes, includes the insurance fee in calculating the agency commission
Apply referral commission 
Yes
If set to yes, includes the insurance fee in calculating the referral commission
Pay operator commission
Yes
If set to Yes, the insurance fee charge is included in calculating the pay operator commission
Apply Sales Tax (or GST)
Yes
This applies GST, or gross sales tax to the insurance fee. This is set to yes by default
Display as default
Yes
If set to yes, displays the insurance fee as the default in the insurance fee list when making a booking
Description
No
Additional details about the insurance fee. These are printed on documents provided to the customer. E.g. rental agreement and invoice

Points to Note

  1. The "Rate", "Max Price" and "Apply Sales Tax (or GST)" fields may not be able to change if the fee has been used in hired / existing bookings.
  2. Insurance charges may be added by Location, Vehicle Category Type, Vehicle Category, Age of Driver and number of Rental Days.
  3. When adding a new Insurance charge the Age of Driver, Number of Rental Days and Vehicle Type and Categories are optional.
  4. When entering Age of Driver or Number of Rental Days leave the 'To' field empty if you want for example 25+ years for Age of Driver.
  5. If either Age of Driver, Number of Rental Days or Vehicle Type and Categories are entered only matching insurance options will be displayed on the Booking form at the time of rental.


Update and Delete Insurance Fees

The below article is just a generic guide how to update or delete a record:
Updating and Deleting a Record



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