An Independent Look at Rental Car Insurance

If you walk up to the Rental Car Counter the Rental Agent will ask you to buy insurance for the rental car. If you do not say yes, they will require you to sign next to every coverage you choose to decline. The choices you make in those few minutes could have a significant effect on the financial position. Deciding whether you should buy the auto insurance available by the Rental Car counter before you arrive will prevent you from suffering a significant financial loss or spending money on insurance that is already in place or don’t require. One of the most frequent questions we get asked the most often as insurance brokers are “Do I need to purchase the auto insurance offered at the rental car counter when I rent a car?” The answer to this question is probably. It is possible to cover the rental vehicle using insurance policies that you already have or you might decide that you require additional protection. In this article , we’re going to provide you with the details you require to make these important choices. Visit:-

If you are renting a car There are a variety of ways to Get Coverage Without having to purchase coverage at the Rental Car Counter.

Transfer Coverage from Your Current Auto Insurance Policy – If you plan on renting a vehicle and already have an auto insurance policy, you must bring the insurance I.D. card along when you rent the vehicle. The rental car company might require it , and it could help you save time and hassle if you are stopped by police while driving your rental car. The deductibles and coverage on your auto insurance policy will automatically be transferred to vehicles that you lease as long as you’re not renting the car for business or renting in a different country. Check the declarations section of your auto insurance policy to determine if you have Property Damage Liability, Comprehensive and Collision coverage. Take note of the property damage Liability limit as well as your comprehensive and collision deductible. If you’re renting a vehicle in another country , you must think about purchasing insurance at the counter at the rental as many personal insurance policies for automobiles only cover their owners within the country in which the policy was originally written.

The damage to your rental vehicle are covered under the property Damage Liability portion of your personal auto insurance policy , if you rent the vehicle to enjoy a leisure trip. If, however, you were injured in an incident that is protected by the auto insurance policy, and your vehicle is in the repair shop, it will be repaired. The damage to the replacement vehicle that you lease are covered under your Comprehensive and Collision coverage section of your automobile insurance plan. This means that you’ll be required to pay the deductible of the coverage if you cause damage to the car you rented.

Utilize the coverage provided by your Credit Card – The majority of major credit cards offer rental car coverage as one of the advantages of having their cards. However, the insurance coverage these cards offer usually pays only after your personal insurance policy limits are exhausted, and only if you utilized their cards to cover the total cost for the car rental. The amount of protection offered by credit cards is subject to change every day, therefore we suggest contacting the credit card company to find out the exact amount of protection when renting a car. When speaking with the representative from your credit card inquire about Collision, Liability, Comprehensive and insurance for rental vehicles. It is recommended to request the information in writing since it is not uncommon to receive multiple answers by the credit card business. It is also important to inquire whether there are any restrictions. A lot of credit cards do not provide coverage for exotic or luxury rental cars.

Buy a Non-Owned Auto Insurance Policy If you are a frequent renter of cars often but don’t have an auto insurance policy , you could save yourself some dollars by buying an “Non-Owned Auto” Liability policy. The policy offers the same insurance as the Excess Liability insurance offered by the counter for rental cars. These kinds of insurance typically cost about $300 per year and cover you for driving any private automobile. The policy will only provide insurance against Bodily injury and property damage liability. It does not cover damage to your rental vehicle therefore you’ll need buy insurance such as the Collision Damage Waiver or use one of the other methods for coverage we have discussed previously.

If you’re unable to get coverage using one of the options listed in the previous chapter , you ought to seriously consider buying coverage through the Rental Car Counter. It is difficult to obtain honest advice regarding these insurances from the agent who rents the car because they receive an amount of money each time they offer the coverage to you. We’ve given you all the assistance you require below.

Collision Damage Waiver (CDW) This type of protection is also referred to as the Loss Damage Waiver (LDW) by certain rental car companies. It is frequently referred to as insurance, but this is not the case. It’s in fact a waiver of liability. If you buy this insurance the rental car company releases the responsibility for damage or theft to the car you are renting. If something happened to the vehicle, you’d just fill out a claim form after returning the vehicle to the company that rented it. The rental vehicle will cover the cost of repairing or replacing the car. The cost for this type of protection typically ranges from $15 to $25 based on the location you’re renting.
Be aware that this coverage could be void in the event of an accident when you violate the law. This could include speeding too fast and driving off the road, or driving under the influence, therefore be cautious when you are driving a rental vehicle or any vehicle for that matter.