Should I buy rental car insurance when renting? Should I pay extra for rental car insurance? How many of you wondered about this while filling out the paperwork at a rental car company? If you have, you are not alone, as it’s one of the foremost questions in most people’s minds when it comes to renting a car. Unfortunately, the answer isn’t straightforward as it depends on various factors. This article will help you understand rental car insurance, whether or not you need it and if you should buy it from the car rental company.
What is Rental Car Insurance?Rental car insurance differs from your existing auto insurance in that it protects your rented car while renting it. These policies comprise multiple components, including: Collision damage waiver (CDW) With CDW, the rental company cannot hold you responsible for repairs or replacement costs if the rental car gets damaged in your possession.
Do I Need Rental Car Insurance to Rent a Car?No, there is no rule saying you must buy car insurance from your rental agency. Many insurance companies focus solely on rental car insurance. Besides, it is always better to check before getting rental car insurance. Most of the time, your existing auto policy or premium credit card covers car rental.Does My Current Car Insurance Policy Cover Car Rental?It depends on your car insurance provider. So reach out to them to learn more about the coverage your current plan provides.Can I use My Credit Card Benefits for Rental Car Coverage?Most credit cards do include rental car coverage as part of their benefits. However, credit card benefits don’t provide SLP or PAO, which means you will be held responsible for:
Can I use My Credit Card Benefits if I Buy Insurance From the Car Rental Company?No, you cannot. Once you buy rental coverage, it cancels out any credit card benefits.How Much Auto Insurance Coverage Do I need?You can decide based on the legal minimum insurance requirements for your state and other states you will be traveling through. You generally need to get a policy providing coverage for:
What if I Keep Valuables in a Rental Car?Both auto and rental car insurance policies do not provide coverage for valuables in the car.Do I Need Rental Car Insurance for International TravelNo, most rental car insurance policies do not provide coverage for international travel.How Much Does Rental Car Insurance Cost?The price varies and depends on various factors like the car type, where you plan to travel, and if your existing auto policy or credit card offers rental car coverage.Can I Rent a Car Without Having Insurance?Yes, you can because most rental cars are insured. However, it is better to have some form of rental insurance because you will be held responsible for any vehicular damages if you don’t have insurance.When Should you Get Rental Car Insurance?Though opting for rental car insurance depends on various circumstances, it makes sense to opt for rental car insurance if:
When You Don't Need the Rental Company's InsuranceThere are some scenarios where you don’t need rental car insurance, still get the coverage you require, and save money. Examples of common situations include:
The Bottom Line: Do You Need Rental Car Insurance?So, in a nutshell, the answer to do I need to buy insurance when I rent a car depends on:
Want to Make Rental Car Insurance a Part of Your Policy?Contact us today and we'll make it happen. If you're looking for rental car insurance near our Black River Falls, WI office call +1 715-284-5318 or visit our Black River Falls auto insurance page. If you're looking for rental car insurance near our La Crosse, WI office call +1 608-881-6566 or visit our La Crosse auto insurance page.Via https://www.preferredlax.com/article/should-i-buy-rental-car-insurance
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ABOUT USBased in La Crosse, Wisconsin, Preferred Insurance Agency is an independent insurance agency offering auto insurance, home insurance, flood insurance, business insurance, and life insurance. We are licensed in Wisconsin, Minnesota, and Iowa. Archives
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