Many people travel during the holiday season, and those travelers will also often be renting cars. During that experience, they will be offered the opportunity to purchase rental car insurance.
However, many of those travelers don’t know whether or not rental car insurance is worth their money. While many consumers say that they never buy it, others feel that this is a rather shortsighted perspective.
The fact is that car rental insurance is relatively inexpensive, but at the same time it is among the best ways to protect yourself when you travel. However, before you do make the purchase, you should know what your existing auto insurance covers in terms of loss or personal property or even damage to the rental car.
If you already have automobile insurance that includes comprehensive coverage and collision, then your rental car can also be covered within those coverage limits. Moreover, if you pay for your rental car with a credit card, then one of the benefits of your car could include loss damage waivers for the rental car.
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That said, you should know that just because you may have those other forms of coverage, it doesn’t necessarily mean that you’re throwing your money away by taking out rental car insurance. You may still be able to benefit from that insurance purchase for three primary reasons:
• “Loss of use” for the rental car company is not covered by auto insurance policies in many states.
• If you plan to drive out of the country, the insurance limits in those areas may not be covered by your own auto insurance.
• Your personal items – such as cameras, mobile phones, and laptops – are covered by many rental insurance policies but may not be covered by your auto insurance or credit card. Even if they are covered, the deductible may be far too high to make it worthwhile.