Do you really need to buy rental car insurance?
Does anybody actually buy rental car insurance? I know I usually don’t.
Every time you rent a car, you can expect to be asked to accept or reject the vendor’s offer of car insurance, known as loss damage or collision damage waiver. But do you really need to pay that extra $15 a day?
Well, maybe.
It’s no secret that most higher-end credit cards like Amex Gold and Platinum take care of the basics like damage collision, theft, liability, fees but those ‘basic’ cards may not – unless you’ve signed up at the source, generally for a $25 to $40 annual fee.
And, if you’re driving outside of North America, you may find yourself out of luck as many cards are good for Canada and U.S. travel.
You need to call your credit card company before renting a car to find out what your specific card provides.
Of course, your private car insurance is another option. But that may not work either. If you’ve already dropped the collision coverage on your existing clunker, for instance, remember that you’re going to be limited to the coverage you have on that vehicle, including the deductible.
If, for example, your existing policy has a high deductible, the additional rental car insurance might actually turn out to be the better deal.
And there's the issue of business versus pleasure. If there is a problem, you may have to be able differentiate beween the two when making a claim. Talk to your insurance carrier about your particular circumstances.
What do you do to protect yourself when you rent a car for an occasional trip? Have you had a problem when making a claim?
By Gordon Powers, MSN Money
* Follow Gordon on Twitter here.
Posted by: Patricia | Jul 28, 2021 8:00:56 PM
I sincerely hope that anyone who reads your article has been confused enough to call their own Insurance Company to get the facts.
I'm sorry to say that you do not have enough knowledge of insurance to give advice on whether to accept or decline insurance offered & unless you have something in your Credit Card Coverage or personal auto policy that states in writing that you will be covered, you will not.
And if you Are covered, you better be carrying that Insurance Policy in your pocket as proof. Even if you do, there are countries that will throw you in jail when you have a car accident & keep you & your Passport there until you have paid in full for all of the damage you caused.
Please do your homework, as a little bit of knowledge can be a very dangerous thing.
Posted by: What? | Jul 28, 2021 10:50:20 PM
Funny that seems to be exactly what he's saying.
Posted by: DianeA33 | Jul 30, 2021 11:38:48 AM
I rent and I always have my company warrant the insurance. It's always handy to be insured than not. I waivered once after someone ran into me. Luckily, the other person's insurance covered the balance. Now , I don't take chances, because it only takes one incident to really put off your whole plans. The companies don't push you, so, isn't there something there; when a company doesn't insist, I rather tend to be a little nervous. I trust my good sense, and, take the extra. When you have a good company you can trust, it's better that way. Safer; think id your life is more or less impotant. I value mine. I travel safely, and, in good conscience. What's a small exoense to stay safe. Let your company know you're going and how long for, and trust your insurance broker to guide you in the best way. Protecting your life and reputation have no price... think about it...'
Posted by: Robot Man | Aug 23, 2021 3:41:03 PM
Testing
Posted by: Robot Man | Aug 23, 2021 3:42:38 PM
Follow up to Testing
Posted by: tires maple ridge bc | Aug 29, 2021 2:01:49 PM
I always though that you had to take the car insurance. I guess now I know.