Rental Car Insurance

People filling out the paperwork to rent a car are universally confronted with the question of whether or not they need to buy the optional rental car insurance. Making this decision without the help of prior knowledge of what this policy really covers may just as well be accomplished with the toss of a coin. When you are asked if you want the Collision Damage Waiver (CDW), does "no" mean "I want the coverage", or "No, I waive the waiver?" In reality, if you want the extra insurance , then you want the waiver. Now that we have established how to ask for or decline the waiver, do we really want it or not?

Collision Damage Waiver Coverage

The motive behind purchasing the Collision Damage Waiver is to be assured that the rental car is covered for damages sustained in an accident. Your own automobile insurance may cover this and should be verified. As well, the credit card you use to rent the car may offer a degree of insurance, if only as a secondary resource. Unless you are willing to spend the time to compare item by item, with all of the stipulations and legalese in these documents, just get the insurance, or not. Your best guides for buying extra insurance are your driving record and the distance you plan to drive. Maybe you had better check to see if your own car has comprehensive and collision coverage. If that is true, you may have sufficient coverage, providing the car is used for pleasure.

Rental Insurance Costs

Weighing the costs versus the risk is a personal choice. The car rental industry claims a large percent of its profit from including these extra charges, but a wrecked rental car can total some unexpected charges. Not only will you be responsible for the damages to the vehicle, but you will also be assessed the amount of money the car would have generated in rental time had it been functioning during the time it took to be repaired. It is possible to determine whether or not your current car insurance policy is sufficient to cover your rental car with research. Keep in mind that your policy's deductible will also be in effect for the rental car as well. Opinions vary widely on the wisdom of taking out rental car insurance. In the long run, aren't we all purchasing just one thing, peace of mind?