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Should I purchase rental car coverage?

Should I purchase rental car coverage?

Many rental car companies refer you to your insurance company and credit card companies to determine if you should purchase rental car coverage. So, what does your Insurance policy cover?

1. Liability, Comprehensive and Collision coverage may extend from your auto policy to your rental vehicle in certain circumstances. If you are considering not purchasing rental coverage from the rental car company, review your policy or contact your agent to verify that you have these coverages on your current policy.

2. Your personal auto policy has exclusions and limitations that apply to rental vehicles as well as your personal auto. Some questions to consider when deciding whether to purchase rental car coverage.

a. Will I rent the vehicle for more than 21 days in a 30 day period?
b. Will I be using the vehicle outside the United States?
c. Will the gross vehicle weight of the rental vehicle exceed 10,000 pounds?

If the answer to any of these questions is “yes” contact your agent for additional information.

3. Some rental car companies may hold you responsible for losses that are not covered by your personal auto policy. These may include loss of rental income if the vehicle is out of commission while being repaired and depreciation if the vehicle has been damaged. It is very important for you to understand your responsibilities, so be sure to read the details of your rental contract.

4. Some credit card companies may provide rental car benefits. It is a good idea to contact your credit card company to see what benefits are available.

5. It is important to do your research before you get to the rental car counter. Your agent is here to assist you if you have any questions concerning rental car coverage.

This document was produced to provide information concerning rental car coverage and is not intended to replace or alter the automobile policy. For any questions related to coverage, refer to your policy or consult your agent.