When renting a motor vehicle, it is always necessary to get some amount of insurance so that you are safe guarded in case of any misfortune. When acquiring insurance for rental cars it is important to consider your unique car insurance situation and pay for only the necessary amount of coverage needed. It is advisable to insure your rental car against theft and collision damage, the extent of coverage whether comprehensive or otherwise may be left to your discretion.
Determining the type of insurance coverage for a rental car
Business and domestic travelers that have to rent cars are usually provided with rental car insurance from their employer. If there is a case where the employer does not provide for such a arrangement or if the coverage is inadequate then it becomes
necessary to pay for your own insurance.
Most personal auto policies provide insurance coverage for rentals. It is important to read the fine print in your policy to determine the extent of coverage they will provide. In the event that the policy does not comprehensively cover rentals, then it is necessary to purchase additional insurance.
Insurance for persons who do not own a motor vehicle
For those individuals who may not be motor vehicle owners, then insurance for their rental car is extremely important as they do not have car insurance otherwise. Because these individuals will have to incur the highest cost for insurance of any group then it is advised that they review the plans offered by the rental company, and purchase a plan with only the necessary amount of coverage. Coverage against theft and collision damage should suffice.
Renting a vehicle in a foreign country
When renting a car in a foreign country it is almost certain that you will need to pay for insurance. Some insurance companies offer coverage on cars rented overseas but that coverage may be extremely limited. Read the fine print of your policy to find out just how much coverage you will have, and determine the amount of insurance needed to supplement your policy. In the event that you are not covered for international car rentals, then third party insurance should suffice. You will be held liable for damage but the policy provides full coverage for passengers.
Rental car insurance is necessary for everyone, from vacationers to business travelers. It is an expensive necessity, but the peace of mind is worth it. Before buying insurance for a rental car, be sure to revisit your personal policy to determine the exact amount of additional coverage you have; and remember it is a rental, the bare minimum amount of insurance will do.
