Car Rental Insurance? Do you really need it?
Should you purchase the insurance when renting a car on vacation or any other time?
Yes......and no. Let us explain. If your current auto insurance policy has a vehicle listed on it with both comprehensive and collision or "Full Coverage" then you don't need to TECHNICALLY purchase the coverage.
Many of our clients ask about the insurance coverage offered by their credit card. Keep in mind that in almost ALL cases credit card 'rental car coverage' will be secondary to your auto insurance.
Understand there is still risk by declining their coverage, even if you have full coverage on your vehicle(s) at home. Here are 4 reasons to consider buying the insurance offered by the rental company:
In case of an accident your trip home might be delayed or flight missed. An accident in a rental car will take some time to reconcile if you did not purchase their insurance.
If the rental company comes back billing you for the time their car was in the shop -that time lost will not be covered by your insurance at home.
Your trip home may be interrupted, which can be very aggravating.
The accident will go onto your national claims report as a claim if you rely on your insurance. If you purchase the car rental company insurance it will not count against you as a claim on your insurance history. This can end up saving you a lot of money over time.
If you choose to purchase their coverage and have an accident -it is hassle free. You'll hand them the keys and go home with almost no negative financial ramifications. Give us a call at The Insurance Pros a call and we can answer any additional questions.