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Should You Get Rental Insurance When Renting A Car
Posted under Cheap Online Car Insurance Policy by WilliamRental Car Insurance: Do You Need It?
If you have ever rented a car for a short period of time, whether during a vacation, a business trip, or while your own automobile was being repaired, you have probably faced the question of whether to take out insurance at the rental agency desk when you rent the car. Paying your rental company for insurance on your rental car is necessary sometimes, but not always. In fact, much of the time rental car insurance ends up adding some fairly steep fees onto your rental even though the coverage you’re paying for may be completely redundant.
To know whether you need to write a check for the hefty chunk of change that many automobile rental companies collect for insurance coverage, all you need to do is spend a bit of time finding out exactly what kind of coverage you already have. In many cases, your regular auto insurance is more than sufficient to protect you financially if you do damage a rental car. Anyone who owns an automobile of their own has an insurance policy that gives them some level of coverage in case of damage to the car from an accident, theft, vandalism, or other mishap. It varies a bit from policy to policy, but most of the time this same coverage will apply to a car rented in the policy owner’s name. This means that if your car is fully insured, any rental car that you drive will probably be just as well covered as your personal automobile.
Of course, before you turn down added rental insurance at a rental car agency, make sure you have spoken to your personal insurance agent or a representative from the company that holds your policy to make absolutely sure your policy covers rental cars. If your auto insurance doesn’t cover your rental, you could be left holding a bill for tens of thousands of dollars. This kind of costly mistake can be easily avoided just by making one phone call in advance. Even if you are not planning to rent a car in the near future, it is not a bad idea to find out today whether your policy covers rental cars. That way, all the necessary information will be there for you when you need it.
Even if your regular insurance plan doesn’t adequately cover rental cars, you don’t necessarily need to pay the high insurance fees that a rental agency will probably charge. There are plenty of options to make sure your temporary wheels are covered in case of a collision or other cause of damage to the car. In fact, you can get a much better rate than a rental agent is likely to offer you even if you don’t own a car of your own. There are specific policies that insurance companies offer for customers who rent cars frequently. A non-owner auto liability insurance policy provides affordable and usually quite comprehensive protection for rental drivers who do not own cars. If you don’t have personal automobile insurance that already covers rentals, one of these can offer you the security of knowing you are fully covered without the steep prices of rental agents’ insurance packages.
Whether you find out that you need to take out a non-owner auto liability insurance policy, or whether you discover that you don’t need to pay anything above what you already do for insurance, a bit of forethought and planning can save you a lot of money at the rental desk. Your rental car may be temporary, but the savings will be permanent.
Gray Rollins
http://www.articlesbase.com/automotive-articles/should-you-get-rental-insurance-when-renting-a-car-20642.html
should i purchase insurance when renting a car from the rental company?
should I purchase insurance when renting a car from the rental company. I have my own car insurance for my car.
That depends. Just how bad of a driver are you?
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No it is a scam, your auto insurance probably already covers rentals. Call them and ask.
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yes, because you can treat it however you want, its better to pay the extra money than have to replace the car.
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Ask your insurance agent. he will tell you if your plan covers rentals (mine does, my buddy chris’ doesn’t).
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YES!
Always.
Your car insurance only covers YOUR car, notice it was the year make and model on your insurance card?
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yes…it will be worth it just in case
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if you pay the xtra fee then its on the rental agreement and regardless of what happens you are 100% covered without your co. having to get involved at all.
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YES! always get there insurance… you don’t wanna have to pay for their car trust me… remember if someone else hits you are you covered?
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when i went on vacation last year i did not get it and flipped the car. worst decision i ever made.
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Check of your personal insurence covers rentals. If not then you should get it because you dont know what could happen.
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If you pay for the rental with American Express you are covered, otherwise I would suggest checking with your own insurance company or if you have AA check with them. The insurance they sell with rentals is very expensive and confusing.
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a few people gave good suggestions as to asking your insurance agent which would be best. That sounds like a good idea.
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Is it good to have? yes. Do you need to pay for it? Maybe
Not only may your insurance cover it but if you use a visa card they will automatically cover the car in case of an accident.
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Hi Gameboi,
that depends on the country you’re in.
Generally, insurance from car hire companies is vastly more expensive than what you can get elsewhere but there are legal loopholes which can void the insurance. That’s why I need to know your country to answer.
Blessed be
Karma Singh
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You should check with your agent, and read your policy.
What does it say about you driving Non Owned Autos?
If you are not renting for a long time, and only for a day or 2, I would suggest getting the rental companies insurance. Otherwise, godforbid there be an accident, the claims could get pretty messy.
Your company could deny the claim as its an unscheduled vehicle, or your company could say the rental company is liable, but the rental company says no your company is, etc etc.
Hope this helps
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Claims 6 yrs
Definitely. I rented a U-haul a year ago and purchased the renter’s insurance along with it. I was rear-ended and didn’t to pay a dime, even the cop investigating the incident somehow determined it was my fault. If I hadn’t bought the insurance I would’ve had to pay for repairs. I think the grand total was like $2,500. You can save $20 and not get the insurance, or get the insurance and possibly save yourself thousands of dollars.
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Generally no. See if your own auto policy has coverage on the rental car, if you have an auto policy with full coverage.
Otherwise, yes, buy the insurance, or you can be charged mercilessly in the event of an at fault accident.
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Auto Insurance bodily injury & death investigator, and Senior Policy advisor.
I always do, I just want to know where to mail the towing receipts-has stood me in good stead twice, once in hawaii when the car was vandalized in secured parking and another time in DC when the rental was ‘lost’ at the hotel valet parking. Both times, I called the rental company, they sent out a new vehicle, I went on about my business, never heard a thing about it. ever.
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old doc
Yes, the WHOLE idea behind a rental car is to "Drive it like you stole it" that extra insurance will allow you to total their vehicle without it affecting your insurance on your vehicle. if you insurance policy (VERY Little of them do–they cover the vehicle they are purchased for) does cover rentals then if you total their rental YOUR rate goes up.
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I only get the loss damage waiver. Your insurance will cover liability for damage to other people’s cars or property should you have an accident.
The loss damage waiver covers any damage to the car, whether there was an accident or not. Any claims against it are not reported as an insurance claim. Things that have happened to me or friends with rental cars include:
Valet ran into security arm while parking or recovering the car. Valet tickets always have disclaimer saying they are not liable for any damage to your car.
A hail storm caused dents in the car.
A horse drawn carriage hit the car.
Parking lot dings.
Lost keys.
It’s worth it to just return the car and not worry about anything like that. It’s also worth it not to have an insurance claim that results in you premiums going up or being cancelled.
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That depends. My insurance doesn’t cover a rental. My liability coverage goes with me to any rented or borrowed vehicle in Canada or the US, but not physical damage coverage. However, I can buy a policy for a few dollars a day that covers all collision/upset and comprehensive losses, loss-of-use, and $5,000,000 liability.
For those that think rental car insurance is a scam, I have to tell you that some people have discovered, to their horror, after being in an accident with a rental that their credit card has been billed for the complete replacement value of the car because there wasn’t a policy in place to cover it.
Do not count upon your own policy unless you have thoroughly read the wordings and found clauses confirming coverage. It is a fools’ game.
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I am a licenced insurance broker, vehicle registrations agent, and driver licence issuer.
no
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your insurance should cover rentals, call your agent and ask. if not, you can pay a lil extra for it, and if something does happen, its not on your record with your ins company.
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The truth, I suspect, is somewhere in between. The answer will vary based on the person’s own insurance policies and credit cards. The key is do your homework before you find yourself at the rental car counter initialing your life away.
First, check with your auto insurance carrier and ask lots of questions about deductibles, collision insurance, and whether you’re covered if the car is stolen. Also, as I alluded to before, check with the credit card company you use to rent the car. Often, they will provide a level of coverage, and it’s smart to find out the specifics. For example, are you covered if you’re traveling abroad? The Insurance Information Institute offers a nice checklist to work through.
The frustrating truth is that it all depends. Maybe you’re covered. Maybe you’re not. So, skip the surprises and check.
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AskMike
http://yanswersblog.com/index.php/archives/2008/06/20/ask-mike-initial-here-please/
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