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Is rental insurance worth the cost?

If the vehicle you use as your primary means of transportation were to be rendered unusable in a collision, do you have a secondary vehicle you could use? Most motorists will answer no to this question. If you do not have a secondary vehicle to drive, rental insurance may be a viable option for you. Adding rental car insurance to your policy will allow you, in the event of having to file a claim, to receive reimbursement from your insurance company should you have to rent a car. There are limits to the amount ofccc money your insurance company will pay towards your rental car. An example of this would be that your insurance company puts a moratorium of twenty five dollars a day toward your rental car fees. Many insurance companies will only supply this reimbursement for a limited period of time (i.e. thirty days) per policy period.

This form of coverage can be beneficial to have. Many motorists automatically assume that they will be provided with a rental car should their car be put out of commission. Without rental car insurance, you will most likely be forced to pay these expenses out of your own wallet. While a rider to your insurance policy will only add a few dollars to your rates each month, it can potentially save you hundreds of dollars in rental fees. By price comparison shopping, you can locate a company whose rates for rental car insurance are most affordable. 

By going through comparison shopping, you can quickly view multiple quotes from multiple vendors on the price of your policy. To get these quotes, you will probably have to enter your zip code and answer a few other questions concerning your vital statistics and the type of car you wish to insure. This allows you to choose a company that will allow you to have this form of coverage and still work within your budget. When you are choosing a policy from a company, be careful to note how much the company will be willing to pay each day and what the time period for the coverage is. The numbers may be shown as 25/30 or 30/45. The first number tells you how much the insurance company will pay each day towards your rental car. The second number indicates how many days of coverage are allowed per policy period. You cannot use rental car insurance any time you would like. The general rule is that your primary vehicle must be unable to function in order for the insurance to kick in.

When you purchase rental car insurance, there are two subcategories you must be aware of. There is the type of coverage that will pay for the cost of renting a car if yours is stolen or involved in a collision, and there is the type of insurance you must purchase upon receiving your rental car. When you rent a car, you will need to have liability, collision, and comprehensive coverage on the vehicle. The insurance for a rented car can usually be purchased through the rental company on a per day fee.


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