Should I Buy Rental Car Insurance?
by: Tim Register
Rental car agencies have a menu of insurance policies they would
like to sell you. While each policy could be of some benefit
under the right circumstances, you should review each plan (its
provisions, limitations, and exclusions) before making a
purchase. It is a good idea to request the detailed information
from an agent at the rental office, as most companies only
provide a summary on their Web sites.
Keep in mind; you may not need to buy this additional car
insurance because you have auto insurance from your own car
insurance company. Generally speaking, when you rent a car, the
liability coverage limits you have in your own auto insurance
policy remain in effect with the same limits. In addition, the
comprehensive and collision coverages you have in your own auto
insurance policy remain in effect with the same deductibles. You
do have comprehensive and collision coverage don't you? See our
article, "How Much Car Insurance Should You Buy?" for a listing
of coverage types and definitions.
You may also have some kind of additional auto insurance coverage
through your credit card but it is important that you check your
credit card information for specific details. Some cards only
offer coverage if you rent your car from a particular agency.
Some limit the days for which coverage is available. Some will
only provide coverage for certain types and/or classes of cars.
With some cards, the coverage is not automatic and you must
enroll in a program to get coverage. Some cards that advertise
automatic rental insurance really only reimburse you for the
deductible that you would have to pay under your regular
insurance policy. Still others may provide only collision and
comprehensive coverage, leaving you exposed for personal injury
or property damage to others. Rental car agencies typically offer
liability coverage in two parts - a supplemental liability policy
protects against claims from others and a Loss Damage Waiver
(LDW) covers the rental car. LDW is not technically insurance;
rather, it is a company's agreement not to hold the consumer
liable for loss from all or part of any damage to merchandise.
Before you rent a vehicle, realize the charges you could be
responsible for and how these charges are covered or not covered
by both your own auto insurance policy and the car insurance the
rental company is offering.
If you suffer a loss that is not covered under your auto policy,
check your other insurance policies. For example, if personal
property has been stolen from your rental car, it may be covered
under your homeowners or renters policy. Similarly, certain
medical policies may cover costs of injuries not covered by your
car insurance policy.
As always, check with your insurance company to find out exactly
what is covered under your own auto insurance policy.
Remember, for quick quotes and the easiest way to buy car
insurance on-line or over the phone, visit us at
http://www.carinsurance.com
Tim Register is a representative of CarInsurance.com. You can
visit CarInsurance.com at http://www.carinsurance.com or contact
them at 1-877-327-8728.
CarInsurance.com's online insurance marketplace gives an
opportunity to consumers and to insurance companies. We offer the
ability to shop for car insurance online.
Consumers can receive quotes from many insurance companies, in
some states you are able to purchase your insurance instantly,
online. You don't have to drive your car to buy car insurance.
Buy online...anytime!
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