Car Insurance When Renting a Vehicle
When you rent a vehicle you will be surprised with the amount of taxes and fees that you will pay on top of rent. When you check out, you will be asked if you want insurance on your rental vehicle.This question can throw you if you're not ready for it, because a pretty good rental agencies makes it sound like you need a scope to save yourself thousands of dollars in a collision. Do you need this coverage, or is it just an extra expense to put more money in rental agency 's pocket?
What Is Covered ?
Answering this question begins with understanding what is covered by the policy. This will vary from company lease rental company, but usually there are some similarities with the insurance policy. There are four basic types of coverage: loss damage waiver, insurance, personal accident insurance and personal effects coverage.
Loss damage waiver covers your liability for damage to the vehicle if it is in a collision. This is actually not an insurance product, because it does not pay for the damage. Instead, it takes the responsibility for the damage of you, as a tenant, even if you cause an accident. The rental company's insurance will cover the damage to the vehicle. Some exceptions apply for a waiver, such as accidents caused by off-roading, drunk driving, or speeding. This waiver will also protect you from loss of use is usually charged for that rental companies suffer while making vehicle repairs.
Rental cars come with some auto liability insurance, because state law would require it. However, minimal protection. Because most drivers need more liability coverage than what came with the vehicle, rental agencies offer liability insurance.
If you or your passengers are injured in an accident while driving a vehicle, you can be medical care covered under personal accident insurance. It is quite reasonable to add to your policy. However, you may not need it if you have health insurance.
Personal effects coverage, type of finish, the insurance will pay for any theft of the things that you carry in your rental car. Keep in mind that your homeowner's or renter's insurance policy will probably cover theft of personal belongings, even while traveling.
Do You Need Insurance When Renting a Car ?
Before you sign up for an insurance policy rental car company 's, make sure you really need it. Some of the products you already have insurance can cover the same things that the insurance will cover. Before you head out on your trip, contact your insurance agent and find out what type of coverage you have when renting a vehicle. If you have collision and comprehensive coverage, you may already be covered for rental. However, if you only have liability coverage, you may want to consider purchasing a loss damage waiver when renting a car. When you call your insurance agent, find out whether the loss of use, towing, and administrative costs are covered if you are to break the lease.
Another place to look for the coverage provided by your credit card company. Many credit card companies offer rewards programs automatically insured car hire rental with that card. This coverage is usually only for a rental vehicle itself, not for the people in them or other vehicles on the road. However, this coverage is combined with the existing liability policy and health insurance plans may be all you need.
If after checking these two sources you do not feel that you have adequate coverage, then consider buying insurance. While the accident is not likely to occur when you are driving a rental car, it can, and does not have enough insurance will end up costing you a pretty penny.
What Is Covered ?
Answering this question begins with understanding what is covered by the policy. This will vary from company lease rental company, but usually there are some similarities with the insurance policy. There are four basic types of coverage: loss damage waiver, insurance, personal accident insurance and personal effects coverage.
Loss damage waiver covers your liability for damage to the vehicle if it is in a collision. This is actually not an insurance product, because it does not pay for the damage. Instead, it takes the responsibility for the damage of you, as a tenant, even if you cause an accident. The rental company's insurance will cover the damage to the vehicle. Some exceptions apply for a waiver, such as accidents caused by off-roading, drunk driving, or speeding. This waiver will also protect you from loss of use is usually charged for that rental companies suffer while making vehicle repairs.
Rental cars come with some auto liability insurance, because state law would require it. However, minimal protection. Because most drivers need more liability coverage than what came with the vehicle, rental agencies offer liability insurance.
If you or your passengers are injured in an accident while driving a vehicle, you can be medical care covered under personal accident insurance. It is quite reasonable to add to your policy. However, you may not need it if you have health insurance.
Personal effects coverage, type of finish, the insurance will pay for any theft of the things that you carry in your rental car. Keep in mind that your homeowner's or renter's insurance policy will probably cover theft of personal belongings, even while traveling.
Do You Need Insurance When Renting a Car ?
Before you sign up for an insurance policy rental car company 's, make sure you really need it. Some of the products you already have insurance can cover the same things that the insurance will cover. Before you head out on your trip, contact your insurance agent and find out what type of coverage you have when renting a vehicle. If you have collision and comprehensive coverage, you may already be covered for rental. However, if you only have liability coverage, you may want to consider purchasing a loss damage waiver when renting a car. When you call your insurance agent, find out whether the loss of use, towing, and administrative costs are covered if you are to break the lease.
Another place to look for the coverage provided by your credit card company. Many credit card companies offer rewards programs automatically insured car hire rental with that card. This coverage is usually only for a rental vehicle itself, not for the people in them or other vehicles on the road. However, this coverage is combined with the existing liability policy and health insurance plans may be all you need.
If after checking these two sources you do not feel that you have adequate coverage, then consider buying insurance. While the accident is not likely to occur when you are driving a rental car, it can, and does not have enough insurance will end up costing you a pretty penny.