Should I get Rental Car Insurance? |
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Wondering if you should get
rental car
insurance?
Ask yourself this question: Do you have a spare car
to use in case yours becomes unusable in the event of an accident? If you do not
have a spare car to drive you should definitely consider adding rental car
coverage to you policy so that in case of a claim, your will get reimbursement
when it comes time to rent a car.
Car Insurance
rentals usually are limited to a daily and monthly limit: For example, a policy
may include:
- Maximum paid per day: $30
- Maximum days paid per claim (or policy period): 30 days
Why should I get car rental insurance?
Auto rental insurance is good to have because
many people assume that their insurer will automatically provide you with a
rental vehicle. The reality is that without the coverage, you must pay to rent
cars out of your own pocket. After all, this type of coverage only costs a
few extra dollars per month and can pay hundreds of dollars in rented vehicle
fees. Rental insurance sometimes costs less than expected, for example, some
companies may charge as little as one dollar extra per month.How much does rental car coverage cost?To find out how much
it costs, get auto insurance
quotes from a variety of companies instantly. Just enter your zip code and
answer some questions to get the rates of multiple insurers at the same time.
This way you can compare prices for rental car insurance to get an idea if it
fits your budget for the coverage provided.
When getting prices, be sure to
also take note of the amounts paid "per day" and for how many days in a row it
will cover. You may see the coverage displayed as two number divided by a
forward slash, like so: 20/30. The first number usually indicates how much per
day is paid towards renting the car and the second number indicates how many
consecutive days the coverage will take effect. This example would pay a total
of $20 per day for 30 days, equaling a total of $600.
There are limitations to this
coverage such as not being able to use it any time you want. Usually, the
insured vehicle would have to be inoperable due to a collision.What rental car coverage is required?There are two types
of car rental coverage that may be in mind:
- The type of coverage which pays for the costs of renting a car in case
of an accident or theft.
- This coverage is usually an option and is not required by state
laws.
- The type of coverage which you purchase for a rented car.
- In this case, you would usually need liability with comprehensive
and collision coverage which covers other's vehicle and medical damages
plus the damages of the rented vehicle.
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