How much should I expect to pay for auto rental insurance? Is it worth it?

Question

It will be for about 4 days and a normal compact car/sedan. I think my credit card may also cover rental insurance... but a quick look at the website sounds like I need a PH.D in order to get a claim back from them! Not sure yet if my own personal car insurance will cover me.....

Answer 1

You own car insurance probably covers you in a rental. Check with them first. Coverage from a credit card is usually supplemental doesn't kick in until after other coverage has been paid out.

Answer 2

The first thing you need to do is read your auto policy and see if there is coverage for "non-owned auto." If so, you also need to read the exclusions to see if a rental car is excluded and/or the condition in which the exclusion applies. There are many auto policies that ONLY transfer to a rental if your auto is being serviced/repaired and then you have to prove it.

Your credit card will cover the damage if the credit card is 1) used to secure the rental, i.e. deposit and 2) if the rental car charges are charged to that same card. There is no coverage if you secure the rental with the credit card, but then pay cash or use a debit card to actually pay for the charges.

My personal opinion....if you're only going to have the rental for 4 days then buy at minimum the collision damage waiver. It's most likely LESS than your collision deductible on your auto policy, and you can essentially total out the car & walk away from it free & clear and your car insurance doesn't find out. But there are exclusions to the rental car insurance, i.e. there's only coverage if the renter or the authorized driver on the contract is driving the car. So if you are the only person allowed to drive the car & your wife drives and wrecks, if your wife isn't listed on the rental contract as an authorized driver there is no coverage.

Answer 3

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Answer 4

Call your auto insurance and ask them if you rent a car if it will be covered if you have an accident. Make sure you are getting correct information. If it will then you don't need to purchase any insurance from the rental agency. It is a way for them to make money.

Answer 5

It will depend on who your insurer is on your own auto. Often times they will cover for "temporary substitute auto" this will be in your policy bookley if you can locate it. They will cover all physical damage coverages and extend liability. Best to call your company and get the lowdown from them. Rental coverage from the company is fairly expensive here in canada averaging about $15 per day... not really woth it if your current provider will cover at no cost.

Answer 6

When you rent a car and use your own private insurance to cover it, you have the exact same benefits from the policy that you have on your own car... INCLUDING the deductible.

Rental Car Company's coverage usually averages around $15 extra per day, but you are TOTALLY covered if something happens. No deductible, and no questions asked.

It's worth it especially if you're not counting pennies!

Good Luck.

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Answer 7

Your credit card may cover CDW, it likely does not cover loss-of-use or liability. Your own policy may cover liability, it likely will not cover loss-of-use (you have an accident with the rental and they have to give you another, who pays?). Read your credit card agreement, and your own policy, talk to your own insurance broker, we do not know what the wordings are. I can tell you exactly what your own policy covers if you are resident in Manitoba, but I have no idea where you are.

Answer 8

My advice is TAKE THEIR INSURANCE.

What does it cost? $30-40? Take it, I think it covers anything that happens while you have it.