Car Rental Insurance Explained

Car Rental Insurance Explained


Normally, when people ask us about rental car insurance, they have one of 4 concerns: Will my automobile insurance policy pay for a rental car?Does my car insurance coverage cover damage to my rental car?If I have an accident in the rental cars and truck, does my cars and truck insurance coverage pay for damage to other individuals and vehicles?Should I buy “automobile rental insurance” from the rental company from when I rent a car?Well answer all these frequent concerns today. First, know that rental cars and truck insurance coverage is not the very same as rental vehicle repayment coverage. It provides significant security for single parents, owners of one vehicle, and anybody else that should have a cars and truck on hand every day.Rental Car Coverage RidersEvery automobile insurance coverage policy is an unique arrangement between the insurance company and guaranteed. If you bought a brand-new cars and truck insurance coverage plan, it might consist of rental car coverage.There will be policy limits involved.Perhaps your policy will pay $20 or $50 per day, for 10 days for the rental car.But if youre changing a large work truck, you may need closer to $80 or $100 per day. To paraphrase Mike McCracken of the International Risk Management Institute (IRMI), the liability part of your personal vehicle policy will cover damage you cause to persons or residential or commercial property while driving any car, whether you own it or not.So, if you have a little fender bender at the airport, home damage to both automobiles is covered by the liability part of your policy– up to the policy limitations, of course.If you are in an at-fault accident that hurts other people, you are also covered up to the policy limits.And with the increasing expenses of medical care, we suggest you keep a high level of liability for individual injury– however thats a blog for another day.Now, even though the repairs to your rental car and the parked rental automobile are covered, the rental company will still lose money.

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