When you get to the counter at a rental car business, they usually ask if you want to add insurance. Feeling the pressure, most people say yes and add rental car insurance to their bill. With options ranging from $1 to $20 extra per day, it sparks a question: is coverage really worth it? You might feel more at ease with the additional coverage, but it’s important to know what you already pay for in your personal car insurance.
Rental Car Insurance Coverage: Am I Covered?
Credit Card Coverage
Some credit cards include rental car insurance coverage. This means that if you pay for the car rental with certain credit cards, the coverage is already provided as a benefit of being a cardholder. Checking with your company before you arrive will save you time at the counter. This could potentially save you money, too. If your card provides the coverage, you won’t need to add this option.
Regular Car Insurance
If you have insurance on your personal vehicle, your policy applies to your rental. As long as driven for personal use, your regular policy will cover you! Furthermore, rental car insurance coverage is not necessary if you have personal car insurance. Keep in mind, rental cars used for business or commercial use might not fit in this category. Double check those with your regular provider.
Not Insured?
If you don’t have car insurance, you’ll want to get the insurance coverage that they offer. It will be required that you add this insurance on to protect yourself and other drives. Additionally, it will help protect their vehicle.
What are the options?
Most rental car insurance coverage options have 4 basic a la carte items that you can pick and choose from. The loss-damage waiver typically takes care of financial responsibilities of stolen or damaged cars. The liability coverage is usually state-required and protects you from lawsuits. Keep in mind, most of the basic personal policies cover liability. Personal accident insurances covers medical costs after an incident. Finally, personal effects coverage insures what you have in the car.
In short, all of these coverage options are just that: options. Most times they will be items you can add on and might not need. Doing some light research before your trip will ensure that you are saving money! Not only that, but also insured!