Rental Car Insurance: Do I Need The Extra Coverage?
What Is Rental Car Insurance?
Rental car insurance is an optional temporary insurance policy on a rented vehicle. Often these temporary policies are offered at the counter by the rental agency. Depending on the type of renting you’re doing (business/private use) the coverage will vary, even more so when you’re traveling out of the country.
Usually the optional rental insurance is not very expensive, but enough so that you wonder if you really need the extra coverage. It’s always smart to check with your insurance company regarding current coverage on your personal auto insurance policy, and if you’re traveling check with the local government to see if additional car insurance is needed.
Does My Auto Insurance Policy Cover a Rental Car?
Often your auto insurance policy will cover your no matter which vehicle you drive within the country that you reside. However, your limits and liability will differ from policy to policy so it’s advised that you speak with your insurance agent about the amount of coverage you have on your current auto insurance policy and if you are in fact covered driving a business vehicle.
Does My Credit Card Include Rental Car Insurance?
Many credit card companies offer a form of rental car insurance included for free on your credit card. However, you will need to read the fine print and make sure in fact that you are covered and what your coverage and liability limits are as well as applicable fees and stipulations. Contact your credit card issuer and speak with someone that can explain your rental insurance coverage if any.
Where Can I Get Rental Car Insurance?
Most major rental car agencies like Hertz, Budget, Avis, Alamo and Uhaul all offer some form of collision damage waiver. Usually at a few dollars per day (around $10 per day on average) and it’s optional. Keep in mind that if your auto insurance does not cover the damage you may be liable for the cost.
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