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发帖数: 1050 | 1 I have car insurance. Do I really need to buy their coverage, too?
The answer is: it depends. You want to make sure you’re covered, but you
also don’t want to pay for unnecessary duplicate coverages that could
double the price of your rental.
The first step is to check your auto policy to see what your coverage is. If
you carry comprehensive and liability coverage on your personal car,
coverage will extend to your rental car. If you’re renting a car of similar
value to your personal car, in all likelihood the insurance coverages will
be adequate for the rental.
You should also check with the credit card company — the credit card that
you’ll be using for your car rental. If there are any gaps in coverage with
your personal auto policy, the credit card company may provide secondary
coverage.
Rental Car Coverages Defined
The rental company will offer four main options, that in many cases, you
probably don’t need. Just find out if the coverages below are duplicate
coverages you already have.
Collision Damage Waiver (CDW)/Loss Damage Waiver – This is not an
insurance product, but rather a waiver that transfers financial
responsibility from you to the rental car company in case of damage or theft
. In most cases, waivers also provide coverage for “loss of use” if the
rental car company charges for the time a damaged car can not be used
because it is being repaired.
As previously mentioned, check with your auto insurer and credit card
company to make sure you’re already adequately covered, and you may be able
to decline this coverage.
Liability Insurance – If you have adequate liability coverage on your own
vehicle, this is one coverage you can always decline on your rental.
Personal Effects Coverage – If you have a homeowners, renters or condo
policy, your personal items will generally be covered even if they are
stolen from a rental car. Review your policy documents to be sure, then
decline this coverage.
Personal Accident Insurance – This will cover your medical bills in the
event of a crash in the rental car. As long as you have personal injury
protection on your auto policy or adequate health insurance, you can decline
this coverage. |
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