AUTO INSURANCE ARTICLE
Should I Really Need to Buy Rental Auto Insurance?
By: SpeedWagonCar rental agencies have different options of insurance policies to offer and each policy could help you for various circumstances. Before buying it, you need to review every plan, its provisions, limitations and exclusions. It would really assist you if you request the detailed information from an insurance agent at the rental office.
Remember that you may not have to purchase this optional auto insurance because you already covered by your own auto insurance policy, as it is required by law. Therefore, when you rent a car, the liability coverage limits you have on your own auto insurance policy remain in effect up to its policy limit. Moreover, comprehensive and collision coverage, if you happen to have these on your own auto insurance policy remain in effect with the same deductibles.
When renting a vehicle, most policy holder purchase coverage that is not really necessary that would end up wasting some cash. The average rental coverage is sufficiently covered for most drivers most especially if you are going to travel for pleasure. Before buying this type of auto insurance, consumers must check their existing car insurance coverage like liability, comprehensive and collision which most of the time applied, even when you are driving a rented vehicle. Just to make sure, you need to compute for the value of the loss or damage of the vehicle if you get into accident and decide if you still need to add those policies.
If you happen to have some kind of additional auto insurance coverage through your credit card, remember that it is necessary 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. Others will only provide coverage for certain types of vehicles. With some cards, the coverage is not automatic therefore you must apply in a program to be covered by the policy. Some credit card companies that advertise automatic rental insurance may only reimburse you for the deductible that you would have to pay under your regular insurance policy. And others may provide only collision and comprehensive coverage that would expose for personal injury or property damage to others.
Basically, rental car agencies offer to kinds of liability coverage, the supplemental liability policy that protects against claims from others and the Loss Damage Waiver or LDW that would cover and protect the rented vehicle. LDW is not technically insurance this is an agreement that mandated not to hold the consumer liable for loss from all or part of any damage to merchandise.
Before you rent a car, think of the charges you could be responsible for and how these charges are covered or not covered by both your own basic auto insurance policy and the rental policy. If you suffer a loss that is not covered under your regular auto insurance policy, check your other additional insurance policies. For example, if personal property has been stolen from your rental car, it may be covered under your homeowners or renters policy. Same rules apply to medical policies that would cover the costs of injuries that are not covered by your regular car insurance policy.
Remember that you may not have to purchase this optional auto insurance because you already covered by your own auto insurance policy, as it is required by law. Therefore, when you rent a car, the liability coverage limits you have on your own auto insurance policy remain in effect up to its policy limit. Moreover, comprehensive and collision coverage, if you happen to have these on your own auto insurance policy remain in effect with the same deductibles.
When renting a vehicle, most policy holder purchase coverage that is not really necessary that would end up wasting some cash. The average rental coverage is sufficiently covered for most drivers most especially if you are going to travel for pleasure. Before buying this type of auto insurance, consumers must check their existing car insurance coverage like liability, comprehensive and collision which most of the time applied, even when you are driving a rented vehicle. Just to make sure, you need to compute for the value of the loss or damage of the vehicle if you get into accident and decide if you still need to add those policies.
If you happen to have some kind of additional auto insurance coverage through your credit card, remember that it is necessary 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. Others will only provide coverage for certain types of vehicles. With some cards, the coverage is not automatic therefore you must apply in a program to be covered by the policy. Some credit card companies that advertise automatic rental insurance may only reimburse you for the deductible that you would have to pay under your regular insurance policy. And others may provide only collision and comprehensive coverage that would expose for personal injury or property damage to others.
Basically, rental car agencies offer to kinds of liability coverage, the supplemental liability policy that protects against claims from others and the Loss Damage Waiver or LDW that would cover and protect the rented vehicle. LDW is not technically insurance this is an agreement that mandated not to hold the consumer liable for loss from all or part of any damage to merchandise.
Before you rent a car, think of the charges you could be responsible for and how these charges are covered or not covered by both your own basic auto insurance policy and the rental policy. If you suffer a loss that is not covered under your regular auto insurance policy, check your other additional insurance policies. For example, if personal property has been stolen from your rental car, it may be covered under your homeowners or renters policy. Same rules apply to medical policies that would cover the costs of injuries that are not covered by your regular car insurance policy.
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