What exactly is the car rental company offering you when they suggest their insurance, and Is the car rental insurance cost worth it? Here’s how you can tell!
When you pick up a rental car, you go through a standard process. You’ll sign on the dotted line and make sure the car looks good to go.
At some point, the salesman will ask if you want to purchase additional insurance through them for the rental. If you’re confused, you’re not alone.
The car rental insurance cost is too high to buy it if you don’t need it.
Keep reading to learn more about when you need rental car insurance and when you don’t.
When is the Car Rental Insurance Cost Worth It?
For the most part, if you already have coverage through your own policy, you don’t need to purchase additional coverage through the rental company. There are a few exceptions to this rule.
Here are some cases where it makes sense to consider purchasing car rental insurance:
Your Coverage Isn’t Good Enough
If you don’t have car insurance at all, you should definitely consider purchasing rental car insurance.
If you have some coverage but not enough, it’s probably worth the cost of the additional insurance. For example, if your deductibles are more than you can afford or if you don’t have comprehensive and collision coverage, you might have exposure if you do get into an accident.
If you don’t have any insurance, you should probably purchase supplemental liability coverage from the rental car company as well. At a minimum, you should purchase the company’s loss damage waiver if your own insurance isn’t up to par.
You’re Worried About Your Personal Rates
If you’re worried that your personal insurance rates could go up if you are involved in an accident and need to file a claim, it might be worth your while to purchase rental car insurance. Then if something does happen, your rates won’t be affected.
You’re Driving Abroad
If you’re driving a rental car abroad, your regular insurance policy might not offer coverage.
If you have a credit card, you may have some coverage through that company, but it’s probably not enough. It’s also possible that the country you’re driving in is specifically excluded, as many popular tourist destinations are.
You’re Driving for Work
If your car rental is for business purposes, you might not have coverage through your personal insurance policy.
Be sure to talk to your agent and your company to make sure you have coverage somewhere. You may end up needing to purchase the rental car insurance.
Peace of Mind is Worth the Cost
For peace of mind, the best course of action is to call your insurance broker or insurance company and inquire what coverage you have that would apply to the rental, so you will know for sure what you have and what, if any, additional coverage you may need.
If an Accident Occurs
If you are in an accident and there’s physical damage or bodily injury, you may need a personal injury attorney.
Whether or not you sprung for the car rental insurance cost, we can you with your claim. Contact us today for a case evaluation.