Comments on: Should I Purchase Insurance on a Rental Car?

By: uberVU - social comments

uberVU - social comments — Thu, 31 Dec 2009 02:32:35 +0000

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This post was mentioned on Twitter by RedeemingRiches: RT @InsurancePaper Congrats @DuffyInsurance Wins Article Contest! http://bit.ly/2STJ76 “Should I Buy the Rental Car Insurance”…

By: Ashley Whitney

Ashley Whitney — Wed, 18 Nov 2009 14:43:01 +0000

We’ve also recently started seeing cases where “diminished value” of the rental car is not covered by the primary insurance. If you are in an accident with the rental car, and the rental company decides not to repair it and instead sell it for salvage, they may charge you the difference in the salvage value versus the value of the vehicle before the accident. Some insurance companies are starting to address this exposure, along with the Loss of Use exposure Marc mentioned, and provide optional endorsements you can purchase on your policy.

As always it’s best to check with your agent to see how your current coverage applies and whether there are endorsements you can purchase on your insurance policy to protect from these exposures. A lot of times it’s MUCH cheaper on your policy than the rental car company’s coverage.

By: admin

admin — Mon, 16 Nov 2009 22:14:53 +0000

@Marc & @Adam – Thanks guys for the clarification and help. Hopefully somebody finds this useful!!
admin´s last blog ..Insurance Companies are Cheaters

By: Marc Duffy

Marc Duffy — Mon, 16 Nov 2009 22:08:19 +0000

That is a great question. The answer depends on the type of coverage that you have on your personal car insurance. If you have comprehensive coverage, then, your car is coverred even when it is not being driven for things like vandalism and theft. The coverage is generally subject to a deductible not less than $250. Comprehensive coverage is the only coverage on car insuracne that comes into play when the car is parked and/or not being driven. So your car at home would be coverred if you did have this coverage and if you didn’t obviously it would be coverred.

By: Adam

Adam — Fri, 13 Nov 2009 21:22:32 +0000

Your car would be covered at the airport. The insurance is used for both your vehicle and the rental car. In special situations I’m sure the airport would take care of the cost of the car.

By: admin

admin — Fri, 13 Nov 2009 20:59:08 +0000

Heres a question for you:

You mentioned if you dont buy the rental insurance…you said make sure the car is not used at home.

Hypothetically speaking…If you drive to the airport leave your car in the airport parking lot for the length of the trip. You dont buy the rental insurance because your normal insurance is covering it. If someone breaks into your car at the airport parking lot and steals it. Does your insurance cover that?? Even though your insurance now is covering the rental?