Have you ever rented a vehicle? If you have, then you have been cautioned by people at the rental car counter concerning the possible impacts of driving without getting their rental car coverage offerings. This article sets out to clarify rental car insurance secrets they don’t want you to know about.
If you are like many people, you might not feel certain about just specifically what your present auto insurance includes. And that’s specifically what rental companies are counting on so they can make the fees by selling you their protection.
Do you want to be armed with the right information the next time you arrive at the rental car counter?
Rental Car Insurance Secret #1:
A loss-damage waiver, also known as a collision damage waiver (CDW), provides you freedom from liability in case your rental vehicle is wrecked or stolen. It is not genuinely insurance protection. Alternatively, it is a waiver that declares the car rental company won’t come after you in case their car or truck is harmed or stolen when you are renting it.
Rental Car Insurance Secret #2:
In the case that you own collision and comprehensive coverage on your personal insurance policy, it usually will extend to your rental car. But note, you will remain to be on the hook for your coverage deductible.
Extra liability coverage that the rental car companies offer, will cover injury you do to others’ cars or property. A standard policy limit is $1 million. In the event that you have no car insurance coverage if you do not have a vehicle, you absolutely should acquire this.
Rental Car Insurance Secret #3:
If you own a personal automobile insurance policy, your liability insurance policy coverage will protect you while you are driving rental automobiles. If you have a very little amount of liability insurance coverage on your automobile policy, you could get the supplemental coverage to elevate your protection.
Tip: If you think you need to add liability coverage to a car you are renting, then you would most likely be better off to raise your existing liability policy coverage.
Personal accident insurance will take responsibility for medical expenses for you and your passengers if you are involved in a collision. It includes paying for things like ambulance, medical, and life insurance death benefits.
Rental Car Insurance Secret #4:
If you have health insurance, this coverage would likely be repetitive. If you are worried about death benefits, you ought to possess a life insurance policy.
Personal effects insurance coverage takes care of your personal possessions when they are stolen from the rental automobile, up to a designated dollar amount.
Rental Car Insurance Secret #5:
Your homeowners or renters insurance will take care of your things if they are stolen, even if the burglary arises away from your home’s premises. To make an insurance burglary claim, you’ll need to provide a police report. You will also be obligated to pay for your deductible.
Rental Car Insurance Secret #6:
Credit cards oftentimes deliver insurance coverage for rental automobiles, assuming you have utilized the credit card to acquire the rental, and the rental automobile is rented out in your name. Occasionally, this protection is supplied with your charge card. Having said that, it is added protection, signifying that your own vehicle insurance policy would be expected to pay out before your credit card coverage.
Of course, you don’t want to discover after an accident that you didn’t have the insurance coverage that you were counting on.
In the event that you don’t own vehicle insurance and are going to rely on credit card insurance protection, call up your credit card provider beforehand to check out the details.
Rental Car Insurance Secret #7:
Some companies supply standalone insurance policies for rental automobiles if you don’t want to acquire protection at the rental car counter. You typically need to decline the rental company’s insurance to make use of these. You can conveniently get insurance coverage for anywhere from a day to a year.
Insure My Rental Car offers loss damage waivers protecting as much as $100,000 in damages to your rental automobile. The policy furnishes primary insurance coverage, so you don’t ever need to make use of your auto insurance first. Coverages furthermore extend to rental automobiles out of the U.S.