Car Rental Insurance Tips
If you are planning to rent a car, you should probably consider purchasing the additional car rental insurance that the car rental company offers. The insurance can provide you with several benefits and peace of mind. However, before investing in the insurance, find out what coverage is available to you and discover additional tips that you should consider to save you money on your car rental insurance.
Types of Coverage
Car rental insurance companies offer a variety of coverage options. Some types of coverage include:
Collision Damage Waiver
By not signing this waiver, you will be responsible for the cost of any damage that occurs to the vehicle. You may pay only the deductible, but you could pay up to the total value of the vehicle. With the waiver, you are released from any liability that may result in you driving and damaging the vehicle.
Personal Accident Insurance
This optional insurance provides coverage for death or medical expenses that may result if you are in a serious accident while you are driving the rental vehicle.
Personal Effects Coverage
This coverage is also optional and protects against damages to personal belongings that result from loss or theft while the belongings are located within the rental car.
Additional Liability Insurance
This coverage protects you in case you are in an accident with another party. The coverage pays for the other driver’s medical bills and property damage.
Check the Fine Print
Even if you purchase car rental insurance, the coverage may not apply under certain situations. For example, if you are driving recklessly or on unauthorized roads.
When you are considering renting a vehicle, check on the price of car rental insurance. Even if a vehicle is more expensive than a competitor’s quote, a lower price for the insurance policy can make it a better deal.
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Check Your Current Coverage
Some portions of car rental insurance may be covered by existing insurance coverage that you have. For example, your auto insurance policy may already provide liability coverage. Additionally, your current auto insurance policy may cover any damage that results while you are driving in the rental car and you are in an accident. Your credit card may offer coverage for rental vehicles if you used the credit card to secure the rental.
Car rental insurance can provide you with a great peace of mind, but check your existing coverage so you only purchase the coverage you need.