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Okay, so according to my insurance agent, it is best to purchase loss damage waiver when renting an automobile. I do understand what he's saying about other costs like loss of use that the rental company may try to collect aside from other uninsured fees. And even if you use your visa I hear they may not cover all incurred charges from damages. The LDW costs add up if you rent for more than a couple od days, but looks like it may provide the best peace of mind. And I did consider that insurance companies may suggest getting the LDW to shift potential losses to the rental company. Anyone have any experiences to share?
I have rented for many years and the only thing that I have paid for is a windshield after a rock from a gravel truck hit it. I carry comprehensive and I sometimes rent every other weekend, it’s cheaper than owning a brand new car. I rarely ever take a rental car to a grocery store. People shopping are brutal to each other’s cars.
Once at a airpot the agent allowed me to buy coverage for the car only and let my own insurance cover anything else.
any coverage you carry on your personal vehilce will transfer over to a rental vehicle(not moving van) The only thing we do not carry is lose of use(that means if you get in to an accident with the rental car, the damages will be covered by yoru policy, but the rental agency can still charge you the daily rental fee while the vehilce is being repaired) If you dont have the approiate coverage you should purchase the coverage from the rental agency, if you have comp/collision on your vehicle you do not need to purchase the coverage.
I never buy it. Its a rip off. Many VISA and Mastercards provide collision damage waiver coverage for their cardholders. If this worries you, contact the credit card company and find out. The expense of having such coverage with the car rental company is usually about $8 a day. That is exorbitant for what you are getting.
any coverage you carry on your personal vehilce will transfer over to a rental vehicle(not moving van) ...
Ahhhhhh! Maybe that's why I had to buy a new windshield for the U-haul truck my SIL rented. I was paying the rental cost of it, and he asked if he should get insurance on it. Without even thinking I said no, as I never bought the insurance when I rented, but it cost me around $500 for a new windshield when a rock came off an overhead bridge and busted it.
Or maybe it was simply because he didn't have good coverage on his own car. I just remember kicking myself for saving a few bucks on the insurance coverage.
For me it depends on the situation. I know most people say it's a rip off, but sometimes the situation and peace of mind are worth it to me. On a moving truck, I'll always take it because the repair/replacement costs are so much higher and your personal policy doesn't cover you at all. A few years ago, I rented a large pickup truck from one of the major rental companies. I knew I'd be driving it a few hundred miles on the interstate and snow and ice was predicted. The insurance policy was $12 per day and I only needed the truck for one day, so I took it. It ended up being the best $12 I ever spent. I spun out into the ditch and nearly flipped over. The entire side of the truck was smashed from hitting the side of a hill and the front suspension was bent. I'm sure the truck was nearly totaled and if they elected to fix it it would have taken weeks to repair. I handed the rental agent the keys, told them where to pick it up, and never heard about it again.
Peace of mind, that's why I've always bought it! Well worth it! The $20+ extra a day! And I've been renting cars for years to get out of town since I never take my own vehicle!
One time, I hit a deer in Utah, late one night, lots of damage to a brand new Ford Taurus, but I was able to drive it into Hertz in Salt Lake City with one headlight, where they just shrugged it all off with: Yeah! This happens about a half-dozen times a year up here! I see you have LDW, so just pick out another car for the rest of your trip!
Another time, I backed into a pole in a parking lot, and damaged the rear stop light. No problem! Never cost me a dime!
Does your regular auto insurance policy cover collision/comprehensive on rental cars?
Do you think it's a good idea to drive uninsured?
If your answer to both questions is no, then yes, get the damage waiver.
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