You’ve finally reached your vacation destination, and are arranging for your rental car. The rental car agent is recommending you purchase their insurance coverage – what should you do?
Generally, you should be OK waiving the rental car insurance, if:
• You already have personal auto insurance coverage which inludes comprehensive and collision coverage.
• You are renting the car for pleasure, and the rental contract is in the same name as the personal auto policy that you carry
• You are renting the vehicle in the USA
Be careful about:
• Many rental car carriers charge for loss of use of the vehicle (rental income they are losing on the vehicle), which may not be covered by your personal auto policy.
• Any damage to the rental car will need to be covered at the time the vehicle is damaged or returned. Your personal auto policy will not be able to immediately cover the damage, as your insurance carrier will want time to investigate.
• Any damage to the rental car will be subject to the same coverage limitiations as your personal auto policy, including deductibles.
• If you are renting the vehicle outside of the USA, your personal auto policy may not apply.
You may want to purchase the rental car insurance, if:
• You do not have a personal auto policy
• Your personal auto policy does not have comprehensive and collision coverage
• The rental vehicle is being used for business
• You are renting a vehicle outside of the USA
To check on how your auto policy applies, ALWAYS contact your insurance agent, for any clarification or questions you may have. The professional staff at Hatter, Williams & Purdy Insurance will always take the time to courteously review your coverage with you, and let you know how it applies.