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Car Rental Insurance – Do you need it? What You Should Know!

Car Rental Insurance

Car Rental InsuranceDo I need Rental Car Insurance?
Well, as usual the answer is, it depends. However, millions upon millions of Americans don’t need insurance for rental cars. Read these quick tips and you will know if you need Car Rental Insurance in only a few minutes. However, before we get started, here is one important thing you should know!

If you do need to purchase Car Rental Insurance, then the time to buy it is before you are at the rental car counter!

Am I Already Covered for Rental Car Insurance?
The fact is most drivers already have adequate coverage for a car rental. However, to be absolutely certain follow these quick tips.

  • Check Your Car Insurance Policy
  • If you own a car as I am sure most of you do then talk to your insurance agent about your policy. In most cases, your policy will carry over to your rental car and the same deductable and coverage you have will apply. However, be aware that if your policy is of a “minimum” nature, you may need to decide if you need supplemental insurance. A good example is if you own a “clunker” and do not have comprehensive coverage for things like theft or fire. That could come back to bite you if something catastrophic happens to a newer car you rent.

  • Check The Coverage Provided By Your Credit Card Issuer
  • This is a bit harder to pinpoint as coverage will vary from card to card and from bank to bank. Check the insurance coverage provided by your credit card issuing bank and be sure to ask specifics. For instance, sport cars, motorcycles, SUV’s and motor homes may be excluded. Also, be sure to ask if it is a domestic or international policy. If it is international, you may want to look into travel insurance.

  • Check Your Company’s Corporate Travel Policy
  • Check Your Company's Corporate Travel PolicyIf this is a business trip you are most likely covered by your small business insurance policy, but be sure to check with your agent or have your HR department check before you break out your business credit card.

If you follow these simple steps, you can remove all doubt about whether you need rental car insurance or not. However, keep in mind that if you rent often it may be a good idea to ask your auto insurance agent about a non-owner liability policy. It may be a better option that standard CDW.