How Do I Determine Coverage for a Rental Car? And How Much Does It Cost?

What is Rental Car Coverage?

Rental car coverage is a type of protection offered by rental car companies to cover costs if a rental car is damaged, stolen, or vandalized while in use. It can also cover medical expenses if you or your passengers are injured in an accident. It is different than rental reimbursement coverage or extended transportation expenses coverage, which are add-ons to your car insurance policy to provide a rental car if your personal car is damaged in an accident. Rental car insurance typically includes liability coverage, loss/collision damage waiver, personal accident insurance, and personal effects coverage. It is important to check with your insurance agent or company before renting a car to see if your policy provides these same coverages. Rental car insurance could be a reasonable option if your current car insurance policy does not include full coverage or if you don’t have auto insurance.

What Do You Need to Consider When Determining Your Rental Car Coverage?

When deciding whether to purchase rental car coverage, you need to consider the type of coverage offered by the rental car company, the types of coverage you already have with your personal auto policy, and the reason you are renting a vehicle. It is important to determine if the coverage offered by the rental car company is something that your existing policy does not provide, or if it overlaps with your personal insurance in most areas. Additionally, you should review your policy in order to understand the coverage it provides, such as comprehensive, collision, liability, and theft coverage. You should also look into any deductibles and if the coverage is adequate for the vehicle you are renting. Finally, you should consider if any other policies you have, such as credit card or health insurance, offer any coverage for rental vehicles. By taking all of these factors into consideration, you can make an informed decision on whether or not to purchase additional rental car coverage.

How Much Does Rental Car Coverage Cost?

Do you want to rent a car for your next vacation but don’t know how much rental car coverage will cost? Fortunately, there are several options available, depending on your budget and needs. Insure My Rental Car offers loss damage waivers covering up to $100,000 in damage for as little as $9.75 a day. Allianz Global Assistance provides a Rental Car Damage Protector for just $11 a day, while Sure offers coverage up to $100,000 and roadside assistance for $50. Most major car insurance providers also offer rental car insurance at no additional cost beyond what you already pay for your monthly premium. Finally, RentalCover.com offers supplemental insurance for up to 50% less than an LDW waiver from the rental counter, and allows you to cancel the policy for a full refund up until pick-up time.

Does My Auto Insurance Cover Rental Cars?

Do you need car insurance to rent a car? While rental car companies typically have minimal coverage on their vehicles, it is still important to be aware of the various insurance options available. Your own auto insurance policy might cover you, however, it is important to check the coverage limits and ensure they will cover you while you are driving the rental vehicle. Other options such as buying additional insurance from the rental car company, using a credit card for coverage, or getting a standalone policy through a third party may be worth considering. Ultimately, it’s up to you to do the research before renting a car to make sure you’re properly covered. Without the appropriate insurance coverage, you could be putting yourself at risk of landing in serious legal and financial trouble.

Should I Get Rental Car Insurance?

When renting a car, it is important to ask yourself whether you should get rental car automobile insurance. The answer to this question depends on several factors. If you don’t have car insurance because you don’t own a car, it is likely worth it to buy rental car insurance. If you have car insurance with low coverage limits, it may also be worth it to purchase rental car insurance for the peace of mind that comes with it. If you already have comprehensive, collision, and liability coverage from your own car insurance policy, your policy may cover you in the event of an accident. However, it is important to know your policy limits and any additional limitations on coverage for long-term rentals. It may also be worth considering what other coverage you may have, such as through your credit card company, health insurance plan, or renters or homeowners policy. Do your research and contact your insurance company or agent to make sure you are covered before renting a car.

Does my Credit Card Provide Rental Car Insurance?

Yes, some credit card companies offer rental car insurance as a perk, usually secondary vehicle insurance. You may need to check with your credit card issuer to confirm the details, as some cards may exclude coverage for certain types of rental vehicles, like luxury vehicles, motorhomes, trucks and motorcycles. Additionally, the coverage they provide may vary by company.

When Your Car Insurance Does Not Cover Rental Cars

If your car insurance does not cover rental cars, it is important to understand what the consequences could be. It is possible that you may have gaps in coverage that your personal car auto insurance will not cover, such as the rental company’s “loss of use” fee or damage to the rental car. Furthermore, if you have a liability-only policy, you will not be covered for damage to the rental car. In these situations, you may need to purchase rental car insurance in order to have the necessary coverage. Additionally, you may need to purchase additional coverage such as emergency road service, personal injury protection, or medical payment coverage if you do not have a source of coverage already. Lastly, it is important to keep in mind that if you are traveling for business, your personal insurance policy may not cover you.