Often times when you're headed off to your dream destination the last thing on your mind is rental car insurance. That is, until you're at the rental car counter and they ask you if you want to purchase the rental car insurance coverage. Then they most often go into the spiel about how your insurance might cover it and in your mind (if you're like me) you have no clue.
First, if you have liability, comprehensive and collision coverage on your personal car insurance policy, you most likely have rental car insurance in there somewhere as well. Just to be safe, it is a good idea to review your policy with your agent before your vacation.
Next, you might ask yourself what does the rental company actually cover? Is it worth the money anyway? Check out the information below!
Damage waivers
What it does
Provides coverage if the rental car is damaged or stolen. May not apply if the car is misused (speeding, driving on unpaved roads, or driving while intoxicated).
You might not need it if
You have comprehensive and collision coverage on your personal auto policy
Supplemental liability
What it does
Provides additional liability protection if you’re at fault for an accident and the other party files a claim against you for injuries and damage that exceed your regular policy limits.
You might not need it if
You already have liability coverage that adequately protects your assets. Supplemental liability is essentially a form of umbrella insurance. It provides protection above and beyond what your auto policy provides—useful if you’re sued. If you feel like you need supplemental liability for a rental, you may actually need a personal umbrella policy.
Personal effects coverage
What it does
Provides coverage for items and property you own that’s damaged while in the car.
You might not need it if
You have homeowners or renters insurance (you may have to pay a deductible).
Personal accident insurance
What it does
Covers your injuries while you’re driving a rental.
You might not need it if
You already have health insurance, or you have adequate medical coverage under your auto policy.
Helpful Hints
** Just remember it is always important to talk to your insurance agent or company as a logical first step to be sure of what you're covered for!
**Check with your credit card company-some provide minimal coverage at no charge if you use their card to pay for the rental
**Take your policy paperwork with you to the rental counter-if you're asked questions that you don't know the answer to, you'll have it right in front of you.
Posted Thursday, June 02 2016 8:20 AM
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