Rental vehicles: damage waivers.

Existing law governs contracts between vehicle rental companies and their customers. Existing law regulates an automobile renter's liability for loss due to theft, a rental company's loss of use, or damage or loss to a rental vehicle, damage waivers and damage waiver fees, and the notice to a renter regarding financial responsibility and optional damage waivers. Existing law authorizes the sale of a damage waiver for rental vehicles, subject to certain rate limitations, for each full or partial 24-hour rental day. This bill would increase the amount that a rental company may charge for a damage waiver, as specified, and require that the damage waiver prices be adjusted annually to reflect changes from the previous year in the Consumer Price Index, as defined.