An Independent Look at Rental Car Insurance

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CAR INSURANCE
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An Independent Look at Rental Car Insurance
When you step up to the Rental Car Counter the
Rental Agent is going to ask you if you want to
purchase insurance for the rental vehicle. If you
say no they will ask you to initial next to each
coverage that you decline. The decisions that
you make in these few moments could have a
dramatic impact on your financial situation.
Deciding if you need to purchase the auto
insurance offered at the Rental Car counter
before you arrive can keep you from incurring a
serious financial loss or wasting your money on
insurance that you already have or do not need.
One of the questions that we are asked most as
auto insurance agents is "Do I need to purchase
the auto insurance offered at the rental car
counter when I rent a car?" The answer to this
question is maybe.
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You may be able to provide coverage for the
rental car using insurance policies you already
own or you may decide you need to purchase
additional protection. In this article we are
going to give you the information that you need
to make these crucial decisions. When You Rent A
Car There Are Several Ways To Secure Coverage For
It Without Having To Purchase Coverage At The
Rental Car Counter. Transfer Coverage From Your
Existing Auto Insurance Policy - If you are going
to be renting a car and you have an existing auto
insurance policy you should take your insurance
I.D. card with you when you rent the car. The
car rental company may require it and it can save
you a lot of time and aggravation if you are
pulled over by the police in your rental vehicle.
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The coverage and deductibles on your own auto
insurance policy will automatically transfer to
cars that you rent as long as you are not using
the rental car for business purposes or renting
in another country. You should check the
declarations page of your personal auto insurance
policy to find out if you currently carry
Property Damage Liability, Comprehensive and
Collision coverage. Make note of your Property
Damage Liability limit and your Comprehensive and
Collision Deductible. If you are renting a car
in another country you should definitely consider
purchasing coverage at the rental counter as most
personal auto insurance policies only cover their
owners in the country where the policy was
written.
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Use Coverage Provided By Your Credit Card - Most
major credit cards advertise rental car insurance
as one of the benefits of owning their card.
The truth is that the coverage that these cards
provide usually only pays after your personal
auto insurance policy limits have been exhausted
and only if you used their card to pay for the
entire price of the rental. The level of
protection with credit cards seems to change on a
daily basis so we recommend calling your credit
card company to determine your exact level of
protection for rental cars.
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