How to Find Discounts on Auto Insurance and Rental Car Coverage
You probably have heard of rental car coverage before, but it has little to do with auto insurance. You may have already purchased this type of coverage on your policy, but you may be wondering whether or not it’s right for you. The following article will discuss some important details to consider when deciding whether this type of coverage is right for you. Learn what the different types of rental car coverage include, as well as what you need to know about discounts.
Cost
When renting a car, you’ll be required to carry at least liability insurance. You may have more coverage if you’ve bought a high-end luxury model, but you might be without insurance for rental cars. Liability insurance also has certain limitations. If you park the car unlocked or recklessly, you’ll be out of luck. Luckily, most personal auto insurance policies will cover rental cars. But you should always inventory your existing coverage to make sure you’re covered.
Some rental companies charge a deposit for rental car coverage. While you’re at the rental office, you can purchase additional coverage for a rental car. Renting a car without a rental policy could cost you hundreds of dollars per day. Moreover, if you’re driving a rental car and need to leave it for repairs, you’ll lose a lot of revenue. So, it’s a good idea to get supplemental liability insurance, even if you’re just renting a car for personal use. Read More
Types
If you are renting a car, you should understand the types of auto insurance and rental car coverage. Typically, rental car agencies provide the minimum coverage for the vehicles they rent out. This can leave you at risk of paying significant costs in the event of an accident. Fortunately, credit card companies and other third-party providers offer rental car insurance. This type of coverage is usually sufficient to protect you in most cases.
Personal credit cards will typically offer collision and comprehensive coverage. It’s necessary to book your rental with your credit card to activate the coverage. You will receive a pamphlet from your credit card company with details of your coverage. However, you may also want to consider purchasing rental insurance separately. Some companies may not offer it unless you have a policy. However, you can find many rental car policies with comprehensive and collision coverage.
Exclusions
Some types of coverage exclude rental cars, such as collision damage waivers or loss damage waivers. Collision damage waivers and loss damage waivers help protect the policyholder against the costs of damages to a rented car. Loss damage waivers, also known as “loss damage waivers,” do not cover the costs of replacing the rented car after it has been damaged or stolen. Comprehensive and collision coverage may also provide some coverage for rental cars, but you must check your policy to see what is excluded.
You cannot exclude household members from your auto insurance coverage. If you are planning to drive a recreational vehicle, you might need separate insurance coverage. Purchasing coverage separately can also be a good idea. Some credit cards exclude transactions if the customer is traveling to certain countries. For example, Visa does not cover transactions made in Israel, Jamaica, the Republic of Ireland, or Northern Ireland. Lastly, the insurer may not cover transactions in such countries.
Discounts
In addition to offering discounts on auto insurance, some rental car companies will offer their own insurance coverage, including collision damage waivers. These types of coverage are similar to those offered by auto insurance companies, but they do not include fixed fees. Therefore, knowing how to find discounts on auto insurance and rental car coverage is critical. However, many rental car companies will make it difficult for you to get the coverage you need if you do not purchase their own policies.
The Hartford provides the AARP Auto Insurance Program, which offers members discounts and other benefits. If you are an AARP member, you may qualify for discounts on auto insurance and rental car coverage. Rental car coverage is usually included in your existing policy, or you can purchase additional coverage known as transportation expense. While you’re paying extra money for coverage, renting a car for your vacation isn’t a good idea if you are not able to pay it.