Rental Car Insurance?

Yes, we’ve all been there. Standing at the counter of a rental car place wanting to rent a car to get our vacation started or to get the heck out of dodge from all the chaos happening around an airport or busy populated area.

You ask what they have available or you’ve already made reservations for a car and then they ask if you’d like to put insurance on the car while you have it in your possession. Most of us, because of all of the chaos around, respond by saying absolutely. We say yes, because our mindset is that it’s always better to be insured than not insured. Often times, we end up buying supplemental insurance protection can be redundant, but not in all cases.

You are covered by your auto policy to a certain degree. You may not realize that rental cars are stated in the contract that the rental car is used for “Temporary Substitute” from your own car. Now, the comprehensive and collision will pay for fixing the rental car if you get into accident. However, if your insurance provider states the damage is a certain amount and the rental car company quotes a higher amount, you are then responsible for the difference. Furthermore, if you aren’t covered by your existing insurance policy you may be covered by your credit card. All four major credit card issuers, Visa, American Express, MasterCard and Discover, provide some form of rental car insurance coverage. Although, MasterCard issues a few cards that don’t offer coverage.

Rental car companies insurance covers extra coverage for physical damage to the car. That means that the small amount of money you pay for the coverage could save you a lot if something were to. Also, keep in mind that if you severely damage or total a brand new rental car, your own insurance provider will not pay for certain things nor will they pay for a rental car in place of the rental car.

Have a safe and wonderful July 4th!

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