Rental Car Insurance
Rental Car rental companies offer several different insurance options that your existing policy might already cover. If you rent a vehicle, you may want to check with your auto insurer to determine what supplemental coverages you may need in addition to your current auto policy. Car rental companies typically offer the following products at the counter:
Collision Damage Waiver
Collision Damage Waiver is also referred to as a Loss Damage Waiver (LDW). If you have comprehensive and collision coverage on your own car, you will likely not need this additional protection.
Liability insurance covers medical expenses and damages to another person’s property as a result of a car accident caused by the insured’s negligence. If you are adequately insured on your own car, you may consider forgoing this additional liability protection.
Personal Accident Insurance
Personal Accident Insurance offers coverage to the renter and passengers for medical bills resulting from a car crash. If you have adequate health insurance and disability income insurance, or are covered by personal injury protection/medical payments coverage under your own car insurance, you will likely not need this additional insurance.
Personal Effects Coverage
Personal Effects Coverage provides for the theft of personal items inside the rental car. If you have a homeowners or renters insurance policy, it may cover this already; however, you should check your homeowners policy for specific coverages and limitations. If you frequently travel with expensive jewelry or sports equipment, it may be more cost-effective to purchase a floater under your home or renter’s insurance policies so the items are fully protected when you travel