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News Releases

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News Releases

Hertz to Offer Loss Damage Waiver in New York

PRNewswire
PARK RIDGE, N.J.
Feb 24, 2003

Hertz car rental customers may buy the optional Loss Damage Waiver (LDW) product for rentals in New York State starting February 24, 2003. When customers purchase LDW, Hertz waives its contractual right to seek reimbursement from the customer for damage to or loss of the Hertz vehicle. Now that Hertz customers can buy LDW in New York, the product is available in all 50 states.

Hertz now offers LDW due to the passage of legislation signed into law last November. The new law requires disclosures of the cost and optional nature of the product, information provided to customers, upon request, when a reservation is made by either calling Hertz or booking online at hertz.com. This information is also provided if the customer asks to purchase LDW at the time of rental.

Joseph R. Nothwang, Hertz Executive Vice President and President of Vehicle Rental and Leasing, the Americas and Pacific, commented, "We are now able to offer LDW in all 50 states, thanks to the new law in New York. LDW provides convenience and peace of mind not easily duplicated with other products. Of course, many customers may have adequate protection from an applicable auto insurance policy or credit card, if the credit card is used to book the rental, so we encourage customers to do some research and be knowledgeable about the level of protection provided by such alternate sources before buying LDW."

For customers renting for more than one day, the new law includes a no-cost cancellation option, applicable during the first 24 hours of the rental. To cancel the product, customers must appear in person, with their rental vehicle, at any Hertz location. LDW is available for $9 dollars per full or partial day when renting vehicles with a manufacturers suggested retail price (MSRP) up to $30,000 which includes most popular car models, including compact through full-size vehicles, mini-vans and some SUVs. For vehicles with MSRPs over $30,000, which includes some SUVs and cars in the Hertz Prestige Collection, such as the Lincoln Navigator or Jaguar S-TYPE, the charge is $12 per full or partial day.

Based in Park Ridge, NJ, Hertz, the world's largest car rental company, operates from approximately 7000 locations in more than 150 countries.

SOURCE: Hertz

CONTACT: Richard Broome, +1-201-307-2486, for Hertz