There are many times when you will have to rent a car for various reasons; you would also have had rental car sales executive warning you to buy rental car insurance. You may walk away most of the times without buying one, as you do not know if the current auto insurance you have will suffice. Before you decide to go for a rental car, read through carefully your current coverage to settle on whether to buy one or not. Refer www.straight.com/news/1009421/reasonable-doubt-why-car-rental-discretion-advisable to know more.
A rental car is useful when you are away on a business trip or on a road trip where you cannot use your vehicle. Car rental insurance covers the car that you rent for any damages and also insurance policy includes the replacement car that you will take as a rental car while your vehicle is being repaired for damages.
Car rental insurance: A rental car insurance policy is same as that of your car insurance. You should buy coverage for physical damage to the car. Before purchasing a plan, be sure that you are aware of what you are buying. They offer many types of coverages, and each has a name different from that of your insurance policy.
● Emergency sickness plan
● Personal accident coverage
● Liability Insurance
● Collision damage exemption
Depending on the type of coverage you opt for and from where you purchase it, the price differs. You can buy them from a Car insurance company, Credit Card, from the rental company or through travel agencies. Note that you should first check your car insurance policy as complete coverage will even include a rental car too. Also while renting a car, you should read and understand the instructions as you may be charged rent for the time of repair even though your insurance feeds the bill for the damage. Compare various rental companies as to what they are offering to you as part of their service.
Car insurance pays for Renting a car: Not many are aware that some insurance policies have optional coverage where they pay for the rental car while your vehicle is being repaired for damage due to an accident. It is either called car rental coverage or increased transportation limits. That will help you with the cost of renting a car. It can be a total amount covered or rent applicable per day.
Covered loss: Rental insurance protects only for a covered loss and that too your car should be in a condition where it cannot be driven. Also, note that this coverage does not apply to any repair or maintenance other than accidental damage. Repairs due to mechanical failure are not covered, and you cannot get a rental car if you are on vacation. It is critical to understand the coverage details to know what is included and what is not. You do not want to end up thinking you are covered for something while it is not the case.
Car rental insurance is needed when you drive a rented car or need one and knowing what coverage you will protect you from severe financial damages.