Is it a good idea to get rental car insurance?
When renting a car, one of the questions that often comes up at the rental counter is whether or not to purchase rental car insurance. This can be a tricky decision to make, as rental car insurance can add a significant amount to the cost of your rental. So, is it worth it? Let’s take a closer look.
**The answer is: it depends.**
There are a few factors to consider when deciding whether to get rental car insurance. Firstly, check your existing car insurance policy to see if it includes coverage for rental cars. Many policies do provide coverage for rental cars, so purchasing additional insurance may be redundant. Secondly, consider the type of rental car insurance being offered. Some policies are more comprehensive than others, so make sure you understand exactly what is covered before making a decision.
FAQs on rental car insurance:
1. Is rental car insurance required by law?
No, rental car insurance is not required by law. However, rental car companies may require you to purchase their insurance policy as part of the rental agreement.
2. Does my credit card offer rental car insurance coverage?
Some credit cards offer rental car insurance coverage as a benefit to cardholders. Check with your credit card company to see if this is a perk that comes with your card.
3. What does rental car insurance typically cover?
Rental car insurance typically covers damage to the rental car in the event of an accident or theft. It may also provide liability coverage in case you are sued for damages resulting from an accident.
4. Can I decline rental car insurance and use my own insurance instead?
Yes, in most cases you can decline rental car insurance and use your own auto insurance policy to cover the rental car. Just be sure to check with your insurance company to confirm that rental cars are covered.
5. Is rental car insurance worth the cost?
The value of rental car insurance depends on your individual circumstances. If you already have coverage through your auto insurance policy or credit card, it may not be necessary to purchase additional insurance from the rental car company.
6. What happens if I decline rental car insurance and get into an accident?
If you decline rental car insurance and get into an accident, you may be liable for the cost of repairs to the rental car. This would be covered by your own insurance policy, if applicable.
7. Can I purchase rental car insurance after I’ve already picked up the rental car?
Yes, in most cases you can purchase rental car insurance after you’ve already picked up the rental car. Just be sure to read the fine print to understand what is covered.
8. Are there any exclusions or limitations to rental car insurance policies?
Yes, rental car insurance policies may have exclusions or limitations on coverage. For example, some policies may not cover certain types of vehicles or activities.
9. Does rental car insurance cover personal belongings inside the rental car?
Rental car insurance typically does not cover personal belongings inside the rental car. You may need to check with your renter’s or homeowner’s insurance policy for coverage of personal belongings.
10. Can I add additional drivers to my rental car insurance policy?
Yes, you can usually add additional drivers to your rental car insurance policy for an additional fee. Just make sure to provide the necessary information about the additional drivers when renting the car.
11. What is the difference between collision damage waiver and supplemental liability insurance?
Collision damage waiver (CDW) covers damage to the rental car, while supplemental liability insurance covers damage to other people’s property or injuries to other people in the event of an accident.
12. Can I purchase rental car insurance for international travel?
Yes, you can usually purchase rental car insurance for international travel. Just be sure to check with the rental car company to understand the coverage options available in the country you’ll be visiting.