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I was on vacation last week and rented a car. In my state I only carry liability insurance. The Car rental places are always wanting You to buy their insurance. I used to have a credit card that paid for my insurance. Can Someone tell Me the Pros and the Cons for this insurance car companies offer?? Of course, I bought the insurance for peace of mind. I thought it would be a real nightmare if I was in any kind of an accident. Thanks!!
You are automatically covered for liability, whether or not you own a car somewhere else that is covered. The additional insuracne that you are offered by the rental agency only covers damage to the car that yo are renting. It must be a giant ripoff, because your credit card company is not going to pick up the tab for something that a rental agancy will charge $20 a day forl.
Your own car insurance and credit card company may have rental car coverage for you as far as liability, medical, and physical damage.
However, few have "loss of use" coverage on a damaged rental car for the rental car company.
The problem here is that if you have an accident with the car, the rental car company may go after you for their "loss of use", and charge you the daily maximum rental charge for each day that they don't have the car available due to the accident. It's actually in their best financial interest to drag their feet on the car repairs if you are a financially capable party, as they're guaranteed the highest possible rental fee compared to a car that might not be rented for some days or at a significant discount rate. IMO, it's not far removed from a scam when a rental car company takes weeks and weeks to get a car fixed.
So, there's your options on rental car coverage. If you take the rental company's insurance, they typically cover everything of a loss ... physical damage, deductibles, and loss of use.
Your credit card company insurance benefit won't have such complete coverage for you.
That said, I've rented cars over the last 40 years and never had an accident, damage incident, or other charges with one, and I've never knowingly taken their rental car insurance package. For some of my rentals, their insurance was more than the daily rental charge for the car. I have had well-intentioned clients reserve a car for me at their "corporate discount rate" which did have the insurance package included, at a price comparable to what I would have paid as a "walk-in" client without the coverage.
I am renting a car, but I don't own a car, thus, I don't have car insurance. Should I pick up all of the options that they give me, or what? They have the collision and liability. I don't really care about the personal accident insurance because I have health insurance.
I'm so confused, and am almost thinking maybe I should have flown down south next week.
I am renting a car, but I don't own a car, thus, I don't have car insurance. Should I pick up all of the options that they give me, or what? They have the collision and liability. I don't really care about the personal accident insurance because I have health insurance.
I'm so confused, and am almost thinking maybe I should have flown down south next week.
If you are using a credit card for your rental, then check the benefits package with the CC provider. They may have automatic insurance coverage for your rental. If not, you'd best be taking the rental car company insurance options. All of them.
If you are using a credit card for your rental, then check the benefits package with the CC provider. They may have automatic insurance coverage for your rental. If not, you'd best be taking the rental car company insurance options. All of them.
Well, I just wound up calling my mom and she's going to call their insurance guy, because he gave me advice before, but I didn't end up renting the car, and obviously I have a terrible memory.
I can't exactly afford $250 more on this stupid car but, live and learn, huh? I'm done celebrating the holidays and visiting people after this.
Well, I just wound up calling my mom and she's going to call their insurance guy, because he gave me advice before, but I didn't end up renting the car, and obviously I have a terrible memory.
I can't exactly afford $250 more on this stupid car but, live and learn, huh? I'm done celebrating the holidays and visiting people after this.
When you get your advice from the insurance guy, please post it here. I am in the same situation and can't find definitive information on whether the car rental agent provides basic liability coverage as part of the basic rental. That's my main worry, as my understanding is that Visa does provide damage coverage for the car as well as loss of use.
When you get your advice from the insurance guy, please post it here. I am in the same situation and can't find definitive information on whether the car rental agent provides basic liability coverage as part of the basic rental. That's my main worry, as my understanding is that Visa does provide damage coverage for the car as well as loss of use.
Thanks.
ok, this is what i got from my parents' insurance guy: apparently the damage waiver covers you if you get in an accident, or the car gets stolen. it waives the deductible and the "loss of use" thing, and the loss of use thing will kill you financially because they can claim that the car can't be used for x amount of time and they are losing $X amount because of it.
the supplemental liability covers you if you get in an accident with someone else. i.e. they can't sue you for injury or anything.
basically he told my mom that i, as someone that doesn't own a car or have car insurance, should get both of them. but my mom is awesome and said she'd help pay for some of it.
p.s. my credit card, my one credit card () has coverage for some weird travel accident insurance and that's it. i.e. if my plane, bus or train crashes. hmph.
When you get your advice from the insurance guy, please post it here. I am in the same situation and can't find definitive information on whether the car rental agent provides basic liability coverage as part of the basic rental. That's my main worry, as my understanding is that Visa does provide damage coverage for the car as well as loss of use.
With the exception of the Diners Club Card, most credit card coverage is secondary.
When you sign up for car insurance, which is mandatory in nearly all states, you get a policy declaration saying specifically what your insurance covers. MOST policies will cover all rental cars as long as you have collision and comprehensive. However, you need to call your agent or the insurance company. They should be able to tell you what is covered.
To the OP, if you are in an accident and you are at fault, the damaged parties can sue you. Yes, the insurance is necessary.
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