Rental Car Insurance — do you really need it?Rental Car Insurance is an extremely important part of car hire. In this busy world we live in, we tend to briefly scan, sign and hope for the best. At Best Car Rental Deals we provide you with some very useful information on Rental Car Insurance, a part of vehicle hire that is very often neglected. Please make sure that you fully comprehend what you are signing for on the dotted line.... If you have not been involved in an incident or accident with a rental car, this information might come in handy with your next rental.
Some companies do not give you an option to rent without using their insurance cover, but some do; and this is where you will save! You might already be covered, but make some phone calls to be sure!
If you do need cover, no problem. Let's go through the different options. A very important note to make, is that some car rental companies try to sell you an insurance option that you do not necessarily need; they make more profit out of the rental and some agents receive incentives when they sell a higher cover. Business is business and companies provide good, solid options that will be beneficial to you, should something unfortunate happen. But do your research and don't pay for cover that you don't need.
Some are optional and others are compulsory, depending on the rental company. Collision Damage Waiver (CDW), also known as Loss Damage Waiver (LDW), covers damage to the vehicle. See example on Standard Cover vs. Super Cover Insurance below. Sometimes an excess is payable and sometimes a zero excess is applicable. It does, however, mostly exclude tires, rims, and all glass. Be sure to get those details from your car rental company. Third Party Insurance (TPI). Check with your agent whether this option is included or optional. In the unfortunate event that the accident was caused by you, this cover will come in handy. It will cover the other party as well. Personal Accident Insurance (PAI) covers the renter and passengers, in the case of injury or death. If you already have a similar personal policy in place, compare the cover and decide if it's worth the extra fee. Personal Effects Coverage (PEC) covers personal belongings that are stolen or lost while inside the rental vehicle. Once again, make sure that your personal insurance policy doesn't already cover those items. Supplemental Liability Insurance (SLI) covers damage to other parties (bodily injury) and property. Not available in many countries, most often provided as an option in the USA. Coverage up to $1 million, for a low daily fee. Excess Protection Insurance is separate from the above-mentioned options. Private excess protection insurers provide an even more comprehensive cover at a very competitive monthly and annual rate. For regular renters, this might be a very wise option. The above concepts differ from country to country, so please take it upon yourself to ask your rental or reservations agent to provide you with all the available insurance options and take time to study them. The rental car insurance rate can sometimes be more than the rental rate itself; try to avoid this.
Where a higher, lower or zero excess is applicable when a rental vehicle is damaged. This option is more common in Africa, Australia, Europe, New Zealand, Caribbean, and the Far and Middle East, but is also available at some companies in North and South America and Canada.The European approach is slightly different, where this option is given as a top-up insurance to cover the excess.
Click here for a comparison between Standard and Super Cover Insurance.
For more information on Rental Car Insurance, also visit this highly recommended website. The well informed make wise decisions. Auto-Insurance-Knowledge.com More Resources Affordable Car Insurance Return from Rental Car Insurance to Home Page
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