Rental Car Insurance

You need to have a good driving record, understand few industry terms and how fees are calculated while renting a car. Purchasing right rental insurance can save you from financial wreck.

Tips to find an affordable rental car

Check if your auto insurance also covers rentals, as waiving the rental company’s insurance saves you a lot.
Decide
how far will you drive?
how long you really need the car?
Size of the car.
While making a reservation find out the company’s cancellation policy to avoid heavy penalties. Some companies offer discount if you make your reservation online.
Inspect the vehicle thoroughly and make a note of all existing damages.
To avoid duplicating on any coverage you already made, check with your auto insurance agent and your credit card company.
The car must be rented from a recognized licensed auto rental company.
As vehicles rented at airports incur an airport tax, you can avoid this tax by renting your vehicle from a non-airport location.
Check about age restrictions and how they apply.
The best thing to do is make an inventory of what you want – rate, coverage, deductible.
Incase a rental car is damaged or stolen, the driver is asked to pay a portion of the repair or replacement costs. To file a claim you need to report to the local police, and save all copies of police reports and receipts.

Tips for purchasing Rental Car Insurance

Before purchasing rental car insurance, review all the details in the agreement for your benefit.
Check with your insurance agent about state’s coverage requirements.
Check with your credit card company and understand the type of coverage they offer.
Does your coverage have a time limit that covers only part of rental period?

Coverages / Insurance

Types of Coverage

Collision Damage Waiver

Collision Damage Waiver is available for travel in the United States and most foreign countries. It is not insurance but an “assurance” that the rental company will pay for damages to your rented car. Incase you decline the waiver; you need to pay for the damages. Coverage includes cost of repairs for collision or damages to a rental car, up to the limit of coverage, for which the car rental agreement holds you responsible.

Supplemental Liability coverage - It’s a protection for third party claims, against the renter or any authorized driver for injury/death or property damage. The supplement may cost $10 or more a day

Personal Accident Insurance – In case of an accident with you and any passengers, it takes care of medical and ambulance bills.

Personal Coverage - If you have homeowner’s or renter’s insurance, you may be covered for loss of personal items.

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