Rental Car Insurance

If you have ever talked to a frequent traveler about rental car insurance, they may have told you that it is completely unnecessary and that it is a rip-off. Or, you may have talked to several people who have told you that you should “always, always purchase rental insurance,” and that failing to do so is a big mistake. In order to know which of these two assertions is true, you need to first know a bit more about rental car insurance.

It is absolutely true that insurance companies make a profit off of charging for insurance; however, this does not necessarily mean that you should skip insurance altogether. After all, you will want to make sure you are not stuck paying for the costs of the repairs if you end up getting in a wreck with the rental car. At the same time, however, there is a good chance you will not be stuck paying for the repairs on your own – even if you did not purchase insurance.

If you have complete coverage on any one of your vehicles that you own, this will carry over onto any rental vehicle you drive as well. If you do have complete coverage on any of your vehicles, it is actually nothing but unnecessary money spent if you purchase the rental car insurance as well. Exactly as would be the case if you got in a wreck in your own car, you will only have to pay the deductible if you get in a wreck in the rental car.

One thing that your own insurance will not cover, however, is loss of vehicle for the rental car company. This means that if you get in a really bad wreck, and the car you rented ends up in the shop for several days, you will have to pay for renting those days. The cost of loss of vehicle coverage, however, is usually as high as $25 per day – which might make it not worth the money!

When you travel, it is important that the car you are renting is covered; check with your insurance provider first, however – you may already be covered, without purchasing anything extra!