For some people renting a car can be a painful experience. There can be a lot of pressure to purchase the additional auto insurance offered by the company; so much pressure that not doing so may feel like you are signing your life away. But we here at Joyce, Jackman & Bell Insurors are here to set you straight. We want to help you determine which insurance you need, and which is just fluff.
Before you go:
Check in with your current auto insurance provider. Not only will we help you so that you know how much coverage you already have, but we will also help you determine what portion of current policy will go towards protecting a rental.
It will also be important that you find out whether your current policy will help you pay for any administrative and/or loss of use/towing fees. Ask about a rider to make sure that you’re covered!
Please note however, that we aren’t likely you with diminished value fees.
Call your credit card company:
Did you know that your credit card company will help provide you with rental car protection? It’s true, albeit not well known. These benefits are often secondary to your personal auto policy, so it will be worth checking in with the company to see just what it is that they will cover.
What they offer at the counter:
- Liability Insurance – Depending on your policy, this may not be a necessary coverage. Better protection would be to add Umbrella Liability to your policy, then you are not only covered for damages to your rental, but also throughout other facets of your life!
- Personal Accident Insurance –This coverage will protect you and your passengers if you need medical attention. It is best suited for those of you (or passengers) without Health Insurance.
- Personal Effects Coverage – This will cover you in the event that anything is stolen from the vehicle or damaged in a wreck. Check in with your insurance agent to see if you already have off-premises protection provided by your Homeowners or Renters Insurance.
- Loss Damage Waiver (LDW) – You’ve probably heard about this before. Some people think of it as “walk away coverage”, which means that you get to waive financial responsibility if the rental is damaged or stolen. We always recommend purchasing the LDW if you do not already have comprehensive or collision coverage.
Source - As Summer Travel Season Begins, I.I.I. Offers Road Map to Help Consumers Navigate Car Rental Insurance Options
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