Auto Rental Insurance
Oddly, auto rental companies will not force you to buy their auto rental insurance. If you get in an accident and you do not have auto insurance, the extremely high costs of the accident will be your personal burden and could damage your credit score badly. Having auto insurance coverage when renting a car, or driving any car for that matter, is very important. The small daily fees for auto rental insurance are nothing compared to what you would have to deal with if you had a collision.
Who Can Get Auto Rental Insurance:
Any person, insured or not, over the age of 25 who is renting a car is eligible to buy auto rental insurance.
How Long the Auto Rental Insurance Covers You:
You pay a fee for auto rental insurance per day. It covers you for each 24-hour period that you pay the fee.
Does Your Personal Auto Insurance Cover Rental Cars:
Often your personal auto insurance will cover you when driving a rental car. Ask your insurance agent this very important question prior to renting a car. If you are already paying for auto insurance that covers you in any vehicle that you drive, why pay for additional coverage from the rental business? If you are paranoid and want to be absolutely sure that you are covered completely in the case of an accident, naturally, the more insurance coverage you have, the less chance for a financial disaster. Also, make sure that your personal insurance would cover the entire cost of the rental car if the car is totaled. Your insurance might only cover up to $15,000, which might be half the cost of your rental car, leaving you with the difference to manage.
The Charge Card Bonus:
Certain credit cards automatically apply full collision auto rental insurance coverage when you use their card to pay for a rental car. If you don't know, call and ask your credit card companies to see if they offer this. If yes, make sure to find out if it covers the entire cost of the car if it is totaled. Charge cards are another way to save money from paying for a daily auto rental insurance fee.
If you do not currently have personal auto insurance or a credit card that pays collision coverage on rental cars, and you are renting a car, pay the daily fee for auto rental insurance. The high cost of an accident and the permanent scar on your credit report are not worth the few dollars a day you will pay for auto rental insurance. Auto rental insurance is a great deal if you look at the big picture. Play it safe and be covered.
