Car Rental Insurance Guide

Executive Summary about Rental by Robert McKnight

Rental

Some of the rental company’s insurance policy may be necessary while other coverage may be extended through your own auto insurance premium. It’s important to know what rental car charges you are responsible for before accepting your car.

Coverage Against Acts of Nature

According to Hertz, a leading provider of rental cars, most major rental companies are not paying for costs associated with acts of nature.

Read Your Agreement Terms Carefully

It’s very important to thoroughly read your rental agreement before taking the keys to your rental car or you could end up paying dearly. Consider who else will be driving the car, and know who your policy covers.

Making Sense of the Agreement

Car rental agreements can be very long and complicated documents.

Collision Damage Waiver

Car rental companies offer all types of coverage options to you before you receive your vehicle. This coverage automatically extends to your rental car.It also covers the “loss of use” charge the rental company will end up charging you. If you refuse this coverage, you should be aware that most car rental companies expect to be paid immediately. If you rent a car in another country your insurance coverage will not likely extend to your rental.

Keep Asking Questions About Rental Car Insurance Policies

If you have a loss in your rental car that isn’t covered under your auto insurance policy, try checking your other insurance policies. For example, personal property that gets stolen from your rental car just may be covered by your rental or homeowners policy.

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Should you buy additional insurance coverage from the car rental company?

It covers damage to the rental car if you are involved in an accident. The CDW isn’t exactly insurance, and it only covers only damage to the rental car. First, check your own car insurance policy to see what coverage carries over to rental cars. Many car insurance policies include all-inclusive and collision coverage to damages to rental cars. Typical car insurance policies provide liability coverage that extends to car rentals. If your car insurance policy does not provide these coverages when you are driving car rentals, be sure to purchase additional insurance from the car rental company to protect yourself.

In addition, many credit cards offer coverage for rental cars. If your credit card includes coverage for car rentals that have been damaged in an accident, you don’t need to buy any other additional insurance coverage the car rental company offers you.Finally, read the car rental policy carefully and decide whether or not your car insurance or credit card covers you. Then discuss the car rental’s coverage with the agent. Don’t give into pressure by the car rental agent.