Only about a third of customers purchase rental car insurance when they’re at the rental counter. This policy seems too complicated for some, and that’s why consumers’ reluctance to buy it is really understandable. However, you can get unique benefits from rental car coverage that you won’t get in any standard car insurance products. Examples are shown below.
Damage waivers
Collision damage waivers or loss damage waivers protect insured individuals from liability for possible damage to a rental car. However, the coverage only works in cases when the vehicle is operated as required by the law. If you don’t break any rules, but you damage your rental car, the damages will be covered. It should be noted, however, that by buying only this waiver you leave yourself unprotected in cases when other people or their property get damaged. Such waivers only cover the rental vehicle for $9-30 a day. To be protected against any claims, you should buy the following product.
Liability insurance
Supplemental liability protection or liability insurance supplement (the name is different in different policies) is an additional policy that’s similar to personal liability insurance that you probably already have. The benefit is the same – you’ll be covered if you hurt somebody else or their property. These policies can give you up to $1 million coverage. The daily payment is about $10-15.
Personal coverage
Personal effects coverage or personal accident insurance is also sometimes added to rental car insurance policies, and it pays to replace items stolen from the car or pay for medical bills after an accident. It even provides a death benefit in the most severe cases. Covering your own property and yourself would cost about $5-11 per day.
