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Ri$k Happens: It happened how long ago?

By Mary Ann Gormly, loss analyst, ARA Insurance 

January 21, 2024

Often rental stores lease trucks for short or long periods of time to supplement their own fleet. Trucks are leased and returned on a consistent basis. One leasing company has a habit of contacting the rental store or their insurance company months later notifying them of damage to their trucks.

The damage allegedly occurred so many months ago, it may be difficult to be certain it was from the time your store leased the truck or even if it was caused by another company who may have borrowed the truck after you.

You might consider taking photos of the trucks you lease at the time you accept them into your possession and when you are returning them back to the leasing company. Make sure the photos are date stamped. Ask for a copy of the form they complete at the time the vehicle is returned showing any damage that might be present. At least then you might be aware of notification from them coming many months in the future. Just a thought.

This item, provided by ARA Insurance, Overland Park, Kan., contains safety tips and is intended to help readers better understand and manage risk. For more safety and risk management information, customers of ARA Insurance can log on to ReSource. Access is free, so if you haven’t signed up yet, contact your agent or call 800-821-6580.