Do you need this policy or are you already covered?
Many travelers rent vehicles while they’re on their summer vacations, whether it’s to get around a far-away destination or to head off on a fun road trip, but what many people are always left wondering is whether or not they need to purchase rental car insurance.
This can be tricky, as there are other services that may already be providing this coverage.
If you already have a personal auto policy, then you will likely have all the coverage you need on a vehicle that you rent. However, it is recommended that you go over the terms of your policy, or that you contact your agent or company in order to make certain, before you hit the road.
You may also find that your credit card has enough coverage to get you by.
You must need to make certain that whatever coverage you choose instead of rental car insurance will also provide you with collision coverage. That is the protection that pays for damages that occur to the vehicle that are the result of accidents that involve other objects or vehicles.
Though many people may feel that it is a waste of money to buy this additional policy, if collision coverage is not provided through your own personal auto policy or through your credit card’s benefits, then you could quickly discover that you’ll have to pay for the damage to the rental car out of your own money. In cases where collision is not already covered, it is often considered well worth the traveler’s while to pay for the additional protection.
Many major credit cards do come with come with some coverage, though many issuers provide it only to their elite members, so it is important to check with your credit card company before you opt out of the policy offered from the agency where you’ve rented the vehicle.
Make sure that you understand that coverage, as well, as the rental car insurance from many major credit card companies will reimburse a customer only up to the actual cash value of the vehicle in the case of damage due to theft or collision. Furthermore, keep in mind that most of this type of coverage pays only for the expenses related to damage or theft that aren’t covered by other reimbursements or policies. Therefore, it should be considered to be a supplementary and not primary policy.