Rental Car Insurance Considerations
When you rent a car, no matter if it is for a business trip or for pleasure, you will be offered various waivers to help protect you while you are driving your rental. While you may assume that you need these waivers, they may actually be a waste of money. Keep these considerations in mind to help you decide if rental car insurance is really necessary.
When renting a car, your first call should be to your auto insurance agent. Typically, any existing auto insurance coverage options that you already have will transfer over to your rental car, keeping you protected on the road. Keep in mind that your coverage limits and deductibles will still apply to your rental car.
If you are paying for the rental car with a credit card, you should also talk with your credit card company. Many companies will offer a limited amount of protection for rental cars when you use their card. Most of the time, the coverage that is provided by your rental car company will provide secondary coverage after your car insurance coverage.
Even if you have auto insurance and coverage through your credit card company, you may still want to invest in the insurance offered by the rental company. If you do not have collision and comprehensive coverage, or if you do not want to pay your high deductible after an accident, you may want to opt for the rental car coverage. if you are headed to a different country, other than Canada, chances are your auto insurance will not provide any coverage, so make sure to invest in the additional protection.