Renting a car is an asset in multiple situations. Operating a vehicle can be dangerous at times. Perhaps you are involved in an unfortunate accident. You can rent a car until your vehicle is repaired. Perhaps you a renting a car because you are going on a business trip. This will inform you about potential insurance options.
Perhaps you have questions about the type of insurance coverage you need to add. You aren’t obligated to purchase coverage because the rental car is already covered. However, purchasing some form of coverage is recommended because you will be held responsible for any damage to the rental car. Here’s a guide to the insurance you should have if you rent a car.
- Finding Coverage
You can add insurance to protect you if the rental car is stolen or vandalized. Check with your insurance carrier to see if they offer rental insurance. You may also be able to purchase coverage through your credit card carrier.
Basic liability coverage is provided on all rental vehicles. There are some states where renters need to have personal insurance on the vehicle before the rental company provides coverage. States where you will likely have to add personal coverage, include Texas, New York, Utah, and California. Check with your insurance carrier to learn what’s covered and what situations you are responsible for if an accident occurs while you’re driving the rental car.
- Things to Consider
Inquire about a loss damage waiver. A loss damage waiver reduces the amount you are responsible for covering if the rental car suffers damage. Your insurance carrier may still charge you a deductible, though. The cost of your loss damage waiver is impacted by the rate, type of vehicle you are renting, and your location. Personal Effects Protection is another policy to consider. PEP covers you if your personal items inside the rental car are stolen or damaged. PEP covers your belongings, as well as your loved ones who are traveling with you.
Consider adding extra liability insurance. ALI covers you in liability disputes concerning passengers in other cars. You can add over a million dollars of extra coverage, depending on your location. In addition to the extra liability insurance, you’ll have Financial Responsibility Limits that cover accidental property damage, bodily injuries, and death. You can also add Personal Accident Insurance, which provides emergency medical expense coverage and accidental death benefits.
Check with your insurance carrier to see what type of coverage they offer regarding rental cars. It’s risky to simply rely on liability coverage while you’re driving in a rental. If you have any questions, call our team of insurance professionals at Duane Weber Insurance to assist you.