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I live in the city so I don't own a car, but I get a rental car about 6 times a year for things like weekend trips.
So as a non-car owner, I'm confused about what to do about rental car insurance. I know that most people rely on their regular car's insurance to cover them on rental cars, but as a non-car owner, I have a few options...
Use my credit card's (Amex blue) built-in rental car coverage.
Buy coverage by the day through the rental car co's (which I think is over-priced).
or buy non-owner coverage through a regular insurance company.
Which would you all suggest?
background info: I'm in my mid-20s, w/ a good driving record (no tickets/accidents ever).
The credit card will cover any damage to the car, but there will be some drama before it's all said and done. If you are just renting for a few days, a few times per year, it may be worth the money to go on and buy the "loss/damage waiver" insurance that the rental company offers.
Sometimes when I have a trip to a city were I think the risk of damage to the car is pretty high, I prefer to just rent a car, get the loss/damage waiver, and use that instead of one of the cars I own free and clear. If some nimrod hits your older car, even if it's witnessed by a whole convention of cops and judges, even if the nimrod has insurance, you still have to beat every last dime out of the bums, constantly they try to lowball every aspect of your case. While if you had a rental car with loss/damage waiver "on", you essentially walk away, they bring you another car, bada-bing, bada-boom.
I congratulate you on having the sense to rent rather than buy a car for occasional use there in DC.
I congratulate you on having the sense to rent rather than buy a car for occasional use there in DC.
Thanks! When I did the math, I realized that it didn't make sense for me to own a car...so I usually use zipcar for the occasional quick 1 or 2 hour trips (i.e. buying larger/awkwardly sized stuff that wouldn't fit on the Metro). Zipcar is great for these trips, b/c it's about $8/hr...and that actually includes insurance (and gas). But zipcars can be pricey when rented for a whole weekend...ends up being about $85/day.
So I guess my dilemma is what to do for 2-3 day weekend trips (usually from DC to central PA or Philly burbs):
Zipcar
$85/day
includes gas+insurance
Enterprise/Hertz/reg. car rental company:
$35/day
doesn't include gas or insurance
See if your credit card offers rental insurance - that is best. You can get a waiver from the rental company, but some times these waivers are 50% the rental price for the day.
Thanks! When I did the math, I realized that it didn't make sense for me to own a car...so I usually use zipcar for the occasional quick 1 or 2 hour trips (i.e. buying larger/awkwardly sized stuff that wouldn't fit on the Metro). Zipcar is great for these trips, b/c it's about $8/hr...and that actually includes insurance (and gas). But zipcars can be pricey when rented for a whole weekend...ends up being about $85/day.
So I guess my dilemma is what to do for 2-3 day weekend trips (usually from DC to central PA or Philly burbs):
Zipcar
$85/day
includes gas+insurance
Enterprise/Hertz/reg. car rental company:
$35/day
doesn't include gas or insurance
hmmm....any thoughts?
Well, how much is the comparable insurance on the Enterprise car?
How much is gas, usually? What's your typical trip add up to in miles?
I own a lot of older, paid-off cars, do all my own maintenance, etc. so it does not cost me anything like $85/day to run a car. But, I contribute a good bit of "sweat equity" to the equation, for $85 you just drive like a rich kid having bummed Dad's car and credit card.
If you have several credit cards and can afford to have the one you put the car on "go south" on you for a while, you may be willing to stand that risk. As I understand it, the credit card will indeed cover damage to the car you rent, but, there is typically some drama involved before the cc company makes the rental car company whole.
Maybe someone will post up who has actually wrecked a rental car and used the credit card insurance. I have not.
Beyond that, I can just say it's an effiecent market, the rental car companies all charge about the same per day, and the same for loss/damange waiver, if they are truly charging too much, there is a business opportunity waiting for someone.
One possible alternative - the "Ugly Duck" or "Rent a Wreck" type rental car companies - the standard rental outfits are offering what is essentially a new car, the alternatives offer older cars with some wear on them for less. Assuming you can find one around DC.
I have to hand it to you, you are playing the game smart and trying to play it smarter - good on ya!
The credit car covers the car, but not liability, so that's the added expense of SLI at the rental desk. Credit cards offer protection, depending upon the card, etc., but they are pains in the neck from whom to get reimbursement, and many times they do not cover loss of use. One thing to remember is that the rental car company cares only about its vehicle and the vehicle's ability to return profit. As such, the fees for the waiver for full or partial LDW are not insurance per se, but contractual agreements as to the amount of damages to be assessed against the renter in the event of a loss, regardless of fault.
Carrying your own non-owner policy will allow you to use a friend's car and have liability insurance, for example, and will cover you in a rental car too. It can be less expensive, but it depends upon how many times you need to purchase LDW and SLI.
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All the world's a stage, and all the men and women merely players: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages.
~William Shakespeare (As You Like It Act II, Scene VII)
If you have several credit cards and can afford to have the one you put the car on "go south" on you for a while, you may be willing to stand that risk. As I understand it, the credit card will indeed cover damage to the car you rent, but, there is typically some drama involved before the cc company makes the rental car company whole.
Maybe someone will post up who has actually wrecked a rental car and used the credit card insurance. I have not.
I have had several rental agents in various locations/companies use the following "line" to try and push their coverage ( which I have refused ): "that you are not only liable for the damage, but also the loss of rental income for each day that car is out of service".
Thankfully i've never been put to the test, but if that is all true and one doesn't have any coverage on their own, then the daily charge thru the rental company in fact may make the most sense. If nothing else, it's piece of mind.
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