Choosing Excellent Insurance Coverage

Three Times That You Do Not Need Rental Car Insurance

If you are going on a family vacation, or even traveling for business, you may choose to rent a car. While you may be able to go online and find one at a very good rate, you may find yourself surprised when you get to the counter and find out that they are trying to charge you twice as much as you planned. It is a good possibility that the extra fees being charged are for rental car insurance. Although you may be tempted to take it out, there is a good chance that you may not need it. Here are three occasions that you can feel comfortable signing the waiver to decline it.

You Have Full Coverage Auto Insurance On Your Personal Vehicles

There is a good chance if you have full collision and comprehensive coverage on your personal auto insurance policy, you already have rental car coverage. This is a feature that most insurance agents automatically build into your policies. You can verify your coverage by reviewing your policy or by simply calling and asking your insurance agent.

Even if you do not have it, you can probably add it for pennies on the dollar compared to what the rental company will attempt to charge you. Make sure you know what your deductible is because if something were to happen, you will be required to pay that before your insurance company will pay its share. Be aware if you are renting a car for business purposes only, or in the name of your business, your personal policy may not cover your rental car. If this is the case, make sure you discuss this situation with an agent. 

Contact a company like Matlack & Company to learn more about insurance options.

You Rent Your Car On Certain Credit Cards

Most rental car companies require you to rent your car with your credit card even if you choose to pay cash for the rental when you return. If you rent your car on the right card, your card may already have certain perks that cover any collision damage and they may even provide theft protection.

Be careful and read the fine print. They may not cover any type of personal injury or personal liability, but some of this may be covered under your medical policies. Your credit card may also pay secondary to your personal auto insurance policy, although you can find some that will cover as the primary insurance. If you are depending on this option, just make sure that you know what the fine print states about what will and will not be covered. 

You Have Already Purchased Rental Insurance On Your Own

Even if you do not have your own personal auto insurance policy or place your vehicle on a credit card with coverage, you may still be able to pass on the over the counter rental car insurance being offered. This is because you can purchase it on your own online prior to you renting a car. With the average cost of over the counter insurance costing up to $50 per day, you can find polices online for a small fraction of that amount. These will not only cover cars rented from any company, the premiums normally cover the month and not just the day. This can come in handy when you are renting several times during the month or for extended periods of time. 

Don't spend unnecessary money for rental car insurance when you do not have to. At the same time, you do not want to waive coverage if you do not have nothing else in place. A simple accident can end up costing you an exorbitant amount of money when a small percentage of the cost could have been better invested in insurance.