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DOES MY INSURANCE COVER MY RENTAL CAR IF I'M IN AN ACCIDENT?

  
  
  

 

I was talking to a friend the other day and he told me he had an accident, which meant he was going to be without his car for about 3 or 4 days.  So he said he would have to rent a car while his was getting his repaired.  He then started to ask me a few questions, which made me think insuranceothers might need to have these answers before they get into this situation or even if they are renting a vehicle while on vacation.  Having these answers will make it easier to deal with and a lot less confusing.

 

  • Does my insurance cover the cost of a rental car?
  • Does my insurance cover Collision Damage if I’m in an accident with my rental or do I need to get the added coverage with the rental car company?
  • Does my insurance cover Liability Insurance while I’m renting a vehicle or do I need to get the added coverage with the rental car company?
  • Does my insurance cover Personal Accident Insurance or do I need to get the added coverage with the rental car company?
  • Does my insurance cover Personal Effects or do I need to get the added coverage with the rental car company?

 

You can bet your paycheck that the Rental Car agent will ask you these questions when you go to get your rental car.  As we all know, insurance is a necessary evil.  You never think you’ll need it until you do.  They will ask you the questions above because they want you to be covered in case something happens….and they want to sell you these add ons.  This is why if you are armed with the answers, it will not only make it easier for you when you are getting your rental car but it will make it quicker as well.

 

But 1st:

The first thing you should do prior to going to get your rental car (or when you have a few minutes so you are prepared when you do need it), contact your insurance agent/company and ask them these questions.

 

If after you talk to your insurance company, and you find out your car insurance doesn’t have sufficient coverage, contact the Credit Card Company of the card you will be using for the rental vehicle (you will be asked to give the rental car company a credit card to act as a deposit).  If there are any gaps in coverage with your personal auto policy that needs to be covered, the credit card company may provide secondary coverage.

 

QUESTIONS:

Does my insurance cover the cost of a rental car?

If you purchased the optional coverage, “Rental Reimbursement”, this can help pay some of the costs of the rental car.  Your coverage will spell out how much you have per day towards the rental and the maximum amount you have for your claim.  Some insurance companies have agreements with rental car companies so if you choose to use another company, you may have to pay the costs upfront and then get reimbursed.

 

The following questions deal with Rental Car Coverages.  The rental company will offer some options that you may not need.  Find out from your insurance company to see if you already are covered so you don’t pay for something you already have.

 

Does my insurance cover Collision Damage if I’m in an accident with my rental or do I need to get the added coverage with the rental car company?        

Collision Damage Waiver (CDW)/Loss Damage Waiver – This is not an insurance product, but rather a waiver that transfers financial responsibility from you to the rental company in case of damage or theft.  In most cases, waivers also provide coverage for “loss of use” if the rental company charges for the time a damaged car cannot be used because it is being repaired.  This can cost $10 - $20 a day from the rental company.

 

Check with your insurance company and credit card company to make sure you’re already adequately covered and you may be able to decline this coverage.

           

Does my insurance cover Liability Insurance while I’m renting a vehicle or do I need to get the added coverage with the rental car company?

If you purchase this from the rental company, it will provide in excess liability coverage of up to $1 million for the time you rent a car.  Rental companies are required by law to provide the minimum level of liability insurance required by your state.  Generally, this does not offer enough protection in a serious accident.  If you have adequate liability coverage on your car or an umbrella policy on your home/auto, you may consider forgoing this additional insurance. 

This additional insurance can cost $5 - $10 from the rental company.

 

Does my insurance cover Personal Accident Insurance or do I need to get the added coverage with the rental car company?

 

This provides coverage to you and your passengers for medical/ambulance bills.  This type of insurance can cost about $3 a day from the rental company.  This may be unnecessary if you are covered by health insurance or have adequate medical coverage under your auto policy.

 

Does my insurance cover Personal Effects or do I need to get the added coverage with the rental car company?

This provides coverage for the theft of personal items in your car.  However, if you have homeowners or renters insurance, you may be covered for items stolen from the car, minus your deductible.  You will need to have receipts or other proof of ownership.  This type of insurance can cost around $1.25 per day.

Some rental car companies combine personal accident and personal effects coverage together as on type of insurance, while others sell them separately.

 

Some additional questions you may need to be aware of:

How old does a driver generally have to be to rent a car without any restrictions or fees?

While it can vary by company, the age is usually 25.  There can be exceptions, such as if you are in the military or are using the car for business travel.  Some companies also let you pay an additional “under-age driver fee” if you aren’t 25.

 

What is “Loss of Use Charges”?

In the event of an accident while in your rental car, the rental car company can charge you the rental fee for every day the car is being repaired.  Many companies will offer “loss of use insurance” with the rental.

 

 

Sometimes the simplest things like renting a car can turn into a nightmare, unless you are prepared.  Taking a few minutes to get answers from you insurance company can save you time and money.

 

 

 

Comments

While hiring a car, it is essential to check that whatever insurance protection is available to safeguard your trip or not. Having car rental insurance is quite essential but most of the travelers don’t realize the actual benefit of having car rental insurance. Car hire insurance not only protects you against damages to rental vehicle but also if you ever get into some bad situations you can claim for the same. 
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Posted @ Monday, May 27, 2013 5:13 AM by David jecson
That's a good question, "DOES MY INSURANCE COVER MY RENTAL CAR IF I'M IN AN ACCIDENT?". I'm also curious about that. Interesting indeed.
Posted @ Wednesday, September 25, 2013 1:54 AM by Eric @ Insurance
This post is really incredible, one of the most helpful I have ever read,indeed.
Posted @ Friday, October 11, 2013 1:23 AM by Stop Smoking
Choosing proper insurance policy is really a difficult task. When your are going to hire a rental car,you have to know the detail terms and conditions of the rental car company. Insurance policy can be prepared according the policy of rental car company and insurance company.It is better one should take help of an insurance expert for choosing proper policy.
Posted @ Sunday, November 10, 2013 5:14 AM by Alejandro
This is the best article ever read about insurance. 
While reading this topic I laugh at you but after reading full article I have found it is really serious matter. 
 
And trust me it is one of the most most and most helpful information you have shared here...!!!
Posted @ Thursday, November 21, 2013 4:52 AM by Sophie @ Cheap Car Rental Chile
I don't think that the insurance is going to cover all these things. Because, as per my knowledge the insurance is registered to the name of the person as well as to his/her car number. So, if we rent a car then its number is different from the number of our car which is registered for the insurance claim. So, I think it is not going to be provided. It is also better to avoid accidents because such things are very bad and these things are under our control believe me. We just have to take some preventive steps like we have to do car servicing and maintenance in proper time interval and also when we notice any car related issues, with out any delay we have to do repair of it. If we take such preventive steps then only we can avoid accidents. When I notice the same for my Mercedes in Pacific Palisades I just go for a Mercedes Benz Repair center in Pacific Palisades and get my car repaired as this repair center provide best service and charge good.
Posted @ Saturday, December 28, 2013 12:14 AM by Eric Root
Yes, I am completely agreed with the saying of this article that "insurance is a necessary evil". And yes it is. Because, those who belong to medium family I mean to say whose source of income is not that much vast, they can not afford one after one car if the car commits to accident. So, those who have car, It is better for them to do the insurance for their car to avoid from unnecessary loss after the vehicle commit some accident or crash. Once my friends BMW committed an accident and we were hope less that it will again run. But, we have for god's sake had contacted a good BMW repair center in Park Ridge, IL and ask them whether they can make it good again. They just take the challenge and after a month they asked my friend to take the car and we were amazed after watching the car. They had done a brilliant job and the car is running very well now. So, along with the insurance we have to choose a repair center smartly.
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Posted @ Wednesday, July 23, 2014 8:55 PM by 007
You don't even have to worry about getting lost in an unfamiliar city because all vehicles come equipped with GPS technology. Thanks to car service Fort Worth, you get to spend quality time with your family. Or you get to relax and prepare for an important business meeting. Visit Here to Know More
Posted @ Saturday, August 02, 2014 12:41 AM by Mary W
Car insurance is very necessary and it really helps people in several situations where they can use it to rescued from problem. People like to do insurance in order to protect their vehicle from several types of accidents, other activities too. In the insurance package according to your need you will get the facilities like in collision we will get the facility of insurance or not.
Posted @ Friday, August 22, 2014 8:29 AM by Derek
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