should i purchase insurance when renting a car from the rental company?

should I purchase insurance when renting a car from the rental company. I have my own car insurance for my car.

29 Answers

  • 1 decade ago
    Best Answer

    Yes, the WHOLE idea behind a rental car is to "Drive it like you stole it" that extra insurance will allow you to total their vehicle without it affecting your insurance on your vehicle. if you insurance policy (VERY Little of them do--they cover the vehicle they are purchased for) does cover rentals then if you total their rental YOUR rate goes up.

  • 5 years ago

    Always purchase insurance when renting a car or home for vacation. You may never need it,but if you do it will be a godsend. Case in point we renting a beach house for a week, last day fixing breakfast we ended up putting a hot skillet on the counter that once held a potholder which had slipped to the floor. We took photos of the damage and called the rental office immediately. The $100 we paid in insurance saved us a 3000 charge for a new slab of counter top.

  • 1 decade ago

    You should check with your agent, and read your policy.

    What does it say about you driving Non Owned Autos?

    If you are not renting for a long time, and only for a day or 2, I would suggest getting the rental companies insurance. Otherwise, godforbid there be an accident, the claims could get pretty messy.

    Your company could deny the claim as its an unscheduled vehicle, or your company could say the rental company is liable, but the rental company says no your company is, etc etc.

    Hope this helps

    Source(s): Claims 6 yrs
  • Fred C
    Lv 7
    1 decade ago

    That depends. My insurance doesn't cover a rental. My liability coverage goes with me to any rented or borrowed vehicle in Canada or the US, but not physical damage coverage. However, I can buy a policy for a few dollars a day that covers all collision/upset and comprehensive losses, loss-of-use, and $5,000,000 liability.

    For those that think rental car insurance is a scam, I have to tell you that some people have discovered, to their horror, after being in an accident with a rental that their credit card has been billed for the complete replacement value of the car because there wasn't a policy in place to cover it.

    Do not count upon your own policy unless you have thoroughly read the wordings and found clauses confirming coverage. It is a fools' game.

    Source(s): I am a licenced insurance broker, vehicle registrations agent, and driver licence issuer.
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  • Lucy
    Lv 4
    4 years ago

    The liability coverage only covers you for third party public liability and property damage (that's why it doesn't include any damage to the rental car itself -- that would be covered through the policy you are purchasing through Travel Guard.) You don't have to purchase the liability protection offered... IF you are satisfied with only having the state required MINIMUM coverage for public liability and property damage. If you want more coverage (liability wise) you can purchase the optional additional liability insurance offered by the car rental company, or as others have suggested, check with your personal auto insurance provider to find out what personal liability coverage you have that would extend to you while on a rental.

  • 1 decade ago

    I only get the loss damage waiver. Your insurance will cover liability for damage to other people's cars or property should you have an accident.

    The loss damage waiver covers any damage to the car, whether there was an accident or not. Any claims against it are not reported as an insurance claim. Things that have happened to me or friends with rental cars include:

    Valet ran into security arm while parking or recovering the car. Valet tickets always have disclaimer saying they are not liable for any damage to your car.

    A hail storm caused dents in the car.

    A horse drawn carriage hit the car.

    Parking lot dings.

    Lost keys.

    It's worth it to just return the car and not worry about anything like that. It's also worth it not to have an insurance claim that results in you premiums going up or being cancelled.

  • 1 decade ago

    The truth, I suspect, is somewhere in between. The answer will vary based on the person’s own insurance policies and credit cards. The key is do your homework before you find yourself at the rental car counter initialing your life away.

    First, check with your auto insurance carrier and ask lots of questions about deductibles, collision insurance, and whether you’re covered if the car is stolen. Also, as I alluded to before, check with the credit card company you use to rent the car. Often, they will provide a level of coverage, and it’s smart to find out the specifics. For example, are you covered if you’re traveling abroad? The Insurance Information Institute offers a nice checklist to work through.

    The frustrating truth is that it all depends. Maybe you’re covered. Maybe you’re not. So, skip the surprises and check.

  • 1 decade ago

    Definitely. I rented a U-haul a year ago and purchased the renter's insurance along with it. I was rear-ended and didn't to pay a dime, even the cop investigating the incident somehow determined it was my fault. If I hadn't bought the insurance I would've had to pay for repairs. I think the grand total was like $2,500. You can save $20 and not get the insurance, or get the insurance and possibly save yourself thousands of dollars.

  • Anonymous
    1 decade ago

    Hi Gameboi,

    that depends on the country you're in.

    Generally, insurance from car hire companies is vastly more expensive than what you can get elsewhere but there are legal loopholes which can void the insurance. That's why I need to know your country to answer.

    Blessed be

    Karma Singh

  • 1 decade ago

    If you pay for the rental with American Express you are covered, otherwise I would suggest checking with your own insurance company or if you have AA check with them. The insurance they sell with rentals is very expensive and confusing.

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