Do I need the EXTRA insurance they're going to try to sell me? I drive a beater, so I only have liability. isn't there insurance attached to renting the car in the first place?
2007-06-15 01:05:32 · 4 answers · asked by Freakgirl 7 in Business & Finance ➔ Insurance
If the rental is a substitute because the beater is in the shop, MOST POLICIES (BUT NOT ALL!! Particularly Progressive's) will let the liability transfer over to the substitute. If it's a VACATION rental, it's not a substitute, and the liabiltiy may or may not transfer over, but if it does, it's ONLY to the named insured on the policy, NOT the listed drivers.
As you have no collision coverage, you have to consider - if you total the rental, their deductible is likey $5,000 . . can you afford that?
I'm not a big fan of the "collision damage waiver" they sell, but you need to check with your agent to see exactly WHICH coverages will carry over, and consider your finances to see what you could afford, if someone steals this car while it's rented to you.
2007-06-15 02:00:49 · answer #1 · answered by Anonymous 7 · 1⤊ 0⤋
yes I would recommend it because if you get in an accident the rental insurance will cover bumper to bumper. I have full coverage on my car so when I rent a car my insurance will cover the rental. I would not rent the car with out the extra insurance hope this helps. And no you have to buy the insurance if you don't have full coverage on your own vehicle
2007-06-15 08:15:16 · answer #2 · answered by Sandra C 4 · 0⤊ 0⤋
Check your credit card, if you have one. Many of them offer insurance as part of the transaction if you use your credit card to pay for the rental. Also check your own auto insurer. They may also cover it, depending on the nature of your policy. The rental firms make a great deal of profit on 'added insurance', and many times it's just a duplicate. It's truly only needed if no other source is there to pick up the coverage.
2007-06-15 09:56:58 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
One more thing to consider about accepting the CDW that the rental company offers. Even if your coverage transfers, it pays actual cash value. Most of the rental agreements require that you sign to pay them for diminished value of the vehicle. This means that they will charge you the amount they feel that the wrecked vehicle has lost in value, even after the repair. Depending on the damage to the vehicle, I have seen them claim a thousand dollars in diminshed value. Also, they bill for loss of use, or the money that they would lose while the vehicle is repair that they could have made if they could rent the vehicle.
2007-06-15 09:23:03 · answer #4 · answered by Phil 5 · 0⤊ 0⤋