When you travel you usually rent a car. And whenever you rent a car, it seems that you get hit with a lot of additional, hidden fees that can really run the cost of your car rental through the roof.
The rental car companies make a lot of additional money selling you insurance coverage. The coverage is not a bad thing to have, especially if you don’t have a personal car, then you will need to purchase car rental insurance.
However, if you own a car and have it insured, use your credit card to pay for the vehicle rental, have home owner or renter insurance, you may not need any additional insurance coverage.
How do you know what you need? The easiest way is to simply call your agent. Tell them you are taking a trip and does your insurance cover the rental car. Usually, the answer is yes.
There are exceptions. Some insurance companies will not cover rental car insurance if the vehicle is used for business purposes. Some policies will not cover a luxury vehicle, especially if you do not own a luxury vehicle yourself. Some policies will not cover an SUV. So you need to go over these things with your agent before you make your trip.
If you are traveling on business, check with your company. Some companies have policies in place that cover car rental insurance. Some companies require it, others do not. If you purchase the additional insurance and it is against the company policy, you may not be reimbursed for the insurance charges. So check with boss before you take off on that company trip.
Some credit card companies will pay for the insurance. But check with your credit card company. Sometimes what they call coverage is only the deductible for your personal car insurance coverage. This is important information to know, but if your personal car policy is insufficient, it may not be adequate protection.
If your personal stuff is stolen from the vehicle, a lot of times you home owner policy may provide coverage. You do not want to lose your expensive laptop and not have coverage, so check before you leave home.
Do not assume that having the car rental insurance will keep your personal insurance from finding out about your accident. They will, and they may raise your rates, even if they did not have to pay out against the claim.
Do not assume you are covered, until you ask and confirm the coverage. It is a bad time to find you do not have coverage after you have had an accident.