Article by Steve Benedict

Rental car insurance is a gamble. You may get away without it, but the odds are not in your favor unless you have some form of additional insurance. Your regular car insurance policy probably covers any vehicle you are driving, but the gaps in your personal coverage may spoil your trip and cost you a lot of money.

DON’T WAIT until you’re at the car rental counter! Make a couple of phone calls to your insurance company and the major credit card company you’ll be using for rental. Ask what is covered and what isn’t. My guess is the list of non-covered rental car insurance items is longer than you think. Don’t feel alone in your confusion. Most people wouldn’t even think to ask about some of the possible gaps in coverage.

Here are some coverage items you need to ask questions about:

1) Am I covered if I have an accident that results in the “loss of use” of the vehicle to the rental car company, while the car is being repaired?

2) Am I covered for theft or vandalism to the car or my property?

3) How much coverage do I have on my current automobile, in terms of comprehensive and collision. If you’ve dropped either to save money, your rental car insurance is not going to have either coverage.

4) Who pays for administrative fees, towing fees, diminished value of the rental car due to an accident, medical and ambulance fees or damages to private property.

5) Am I covered if this is a business trip, rather than a recreational trip?

Fortunately for you, most of these questions are easy to answer. Between your credit card company, auto insurance firm and your homeowners insurance policy, most of these areas are covered. If you still have some doubts about an accident, ask the rental car company about a loss damage waiver (LDW).An LDW is technically not a rental car insurance product. It may cost you a few bucks a day, but it will protect you if the rental car is damaged or stolen.

After you’ve done some planning, you may find that no additional insurance is necessary. Between your credit card firm and your regular auto insurance policy, you may have all the bases covered and you can just have some fun on your vacation. When in doubt though, ask your regular insurance company for a temporary insurance rider. It’s a lot cheaper than shelling out the big bucks if you do have an accident.

Rental Car Insurance – Car Rental Collision Waiver Melbourne, Florida Insurance Center of Central Florida www.theinsurancecenter.us Get FREE information about Rental Cars and Collision Waivers. Why you should accept the additional coverage. Log on to www.TheInsuranceCenter.us for complete details. Frank: One of the big questions we always get that people want to know is when I rent a car, do I need to buy the collision waiver, the insurance that the car company is offering. And Kevin’s going to tell us about that. Kevin: Well, that’s a question that everybody likes to ask because when you’re there, you always hear the spiel from the kid behind the counter, and they make it sound like this wonderful product. People always want to know, should I pay for that? Should I pay that daily charge, which has increased significantly over the years. Frank: what, about to a day? Kevin: Oh, it can range from , and I’ve seen it as high as a day. The reason why purchasing that warranty — because it’s not an insurance product, it’s a warranty product — from the rental agency is a good idea is because when you sign that contract when you rent the car, you’re taking a lot of liability on yourself that you may or may not realize. And part of that liability is you’re guaranteeing the rental agency if something happens to that car, you’re going to take responsibility for it. Now, if you damage the car in an accident, you may be able to file a claim against your current auto …

More Rental Car Insurance Articles

Rental car insurance

Question by Kevin Chisholm: What are my options for rental car insurance?
I am renting a car for one month from Hertz. Their insurance is very expensive (at $ 25 per day, it adds $ 900 to my costs). I have already asked my credit card company if they offer auto insurance for a rental car. Do you have any suggestions on other options for inusuring a rental car for one month?
I do not own a car, so I do not have any personal auto insurance. This rental will be in the United States.

Best answer:

Answer by oklatom
With the rental company you have two options, take it or refuse it.

Talk to your insurance agent about a rider which would cover any at fault accident you would have with a rental car for a month. They may have suggestions.

Add your own answer in the comments!

Tags: Insurance, Rental, Tips