When renting a car for pleasure or business reasons, the last thing you want is having to worry about paying for damages to a rental company should an accident occur. For this reason, there’s car insurance to cover you when operating a rental car. Most individuals opt out of purchasing rental car insurance as they feel it’s an unnecessary expense. This is, of course, true if you don’t travel a lot or don’t plan on renting a vehicle, but if you were to damage a rental vehicle, you could be liable for a lot more than what it would cost you if you had rental car insurance.
A common misconception among people who rent cars is that their personal auto insurance will cover them for leased vehicles as well. However, this is not usually the case. Some insurance policies will cover you when you rent a car, but this isn’t the norm. As such, you should always consult your insurance provider or talk to your agent to determine if rental vehicles are covered on your current auto insurance policy. If not, then you can secure car rental insurance.
The good thing is that auto insurance can be purchased directly from the car rental company. Most of the rental firms out there offer various insurance plans to meet the needs of the renter. The premium is usually calculated by a daily rate or weekly if you intend to rent the vehicle for an extended period. The premium is added to the car rental fees and paid together. Keep in mind that you will have to opt for car rental insurance at the time of rental. It can’t be added at a later date, and this is practiced to avoid the possibility of insurance fraud.
Getting rental car insurance is not always necessary. Some credit companies give cardholders several perks such as auto rental insurance, just for being a member. If you want to be eligible for rental insurance from your credit company, the card will have to be used to purchase the rental. Of course, not all companies offer this perk to their clients and so, you should check with an agent from your credit card company to determine if you have this kind of coverage and the requirements to qualify for the perk.
Despite the concern of many people, car rental insurance is quite important. The cost of vehicle rental insurance is a fraction of what you would have to pay if you were to damage the rented car. Most rental companies always ask clients to consider their insurance offers at the time of the rental. Some qualify for coverage either through their credit card company or personal auto insurance. Regardless, it is important to ensure that you are covered before driving off your rental car. Of course, you may want to do some research on the best rates when it comes to car rental insurance if you are to purchase it from a rental company. That’s if paying for the least premiums is a concern.
Finally, ensure you read the fine print. Some companies may have unstated requirements that may have you penalized if not met.