The Iowa Insurance Division issues limited licenses to companies that sell insurance with the rental of vehicles.
To obtain a vehicle rental company limited license, a vehicle rental company shall submit to the Iowa Insurance Division a completed vehicle rental company limited license application, other required attachments and fee.
Iowa Code section 522A and Iowa Administrative Code rule 191-10.51(1) require a vehicle rental company limited licensee to provide written notification of a name or address change to the Iowa Insurance Division within 30 days of the change. This requirement applies to any change, in any location, in which the vehicle rental company limited licensee is doing business.
A vehicle rental company limited licensee must notify the Iowa Insurance Division of the termination of any of its vehicle rental counter employee limited licensees. The vehicle rental limited licensee shall file reports of terminations within 30 days of termination of employment.
The vehicle rental company limited licenses and counter employee licenses will be issued with an expiration date of December 31 and must be renewed every three years.
Each year, on or about November 1st, the Iowa Insurance Division shall mail or email a renewal form for use in renewing the vehicle rental limited license and all of the vehicle rental counter employee limited licenses that will expire that year if applicable. The mail or email will be sent to the vehicle rental limited licensee’s latest electronic mail or mailing address appearing in the Iowa Insurance Division’s records. Contact the Iowa Insurance Division to update mailing address or emails on file in the Iowa Insurance Division’s records.
The vehicle rental limited licensee shall complete the renewal form for its license if applicable and for all of the vehicle rental counter employee limited licenses that will expire that year and shall return the completed renewal form and applicable fee to the division on or before December 31 of the renewal year or all licenses listed on the renewal form shall expire.
The fee for renewal of a vehicle rental limited license is $50, and the fee to renew each vehicle rental counter employee limited license is $50. (There is a limitation on fees. A vehicle rental limited licensee shall not be required to pay license and renewal fees of more than $1,000 in aggregate in any calendar year.)
To voluntarily surrender a vehicle rental company limited license, please submit to the Iowa Insurance Division a request that includes the vehicle rental company limited licensee name and FEIN.