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Do You Need Car Rental Insurance?
In as much as you would like to enjoy your vacation, you can never really tell when would unprecedented things occur. And as a wise man, you should always have a safety net that would catch you the moment you become the prey of any untoward incident that can occur during the trip. This is also true when we are talking about car rental insurance. While many would say that you only have short hours to use the car and there are fewer chances of you having involved in an accident, it is always great to know that in case anything went wrong, you know that you are covered.
But then you still would ask: “Do it really need a car rental insurance?”
The logical answer of course is “yes”.
As was mentioned, you need an insurance to give you that much needed extra net to catch you anytime you fall. But if you are about to rent a car, it is of course important to make sure that you don’t immediately take car rental insurance. Why? Here are the reasons.
1. Some insurance policies you already have can indirectly act as car rental insurance. If in case you are going on a travel and have a car rental reservation, always make sure to check on the coverage stated on your existing insurance policy to avoid spending more than what you really need to pay for. Of course, why have to pay for something you already have? But then, if your present insurance policy could not cover things that should be covered in you car rental, then you might consider purchasing one.
2. If you already own a car with car insurance policy, there are great chances that your trip with another car (rented) can be covered. To be sure on this, read the policy you already have and ask car rental agents about the coverage. In these ways, you will be assured that you wont get double policy that will in turn result to extra expenses you do not need.
3. When you are using a credit card to pay for the car rental, then the credit card can cover some of the policies that are covered by usual car rental insurance. If you fall in such condition, you should check out on the limit of the coverage then decide if your want more coverage.
However, if the 3 mentioned reasons are not applicable to you, then you should take at least some, if not full, coverage. In this way, you can save on things that you cannot use. In other words, take only car rental insurance policy that you think you need. Usually, there are 4 types of car rental insurance coverage: PAI, CDW, SLI, and LDW.
PAI or the Personal Accident Insurance is a one-time insurance payment for the driver and the passengers in the events of injury or death caused by car accident.
CDW or the Collision Damage Waiver covers damage and/or loss committed to the rented car.
LDW or the Loss Damage Waiver is like the CDW
SLI or the Supplemental Liability Insurance is an option if you want to receive over what your business or personal insurance covers.
To be sure on all these, check your own present insurance policy, ask the car rental agent about these, and purchase the necessary policy you only need.
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