Rental Car Insurance

Do you drive rental cars? Got insurance?

One of my favorite rental cars was a red Camaro that my son and I drove up the west coast. Insurance was mandatory!

Damage to a rental car can be financially devastating unless you’re adequately insured. Many travelers opt-out of rental car insurance because the optional collision damage waiver can double the cost. Opting out is ok but only if other coverage is in place.

New technology is being tested by car rental companies. Scanning cars before and after detects even the smallest damage. An Avis test at London’s Heathrow airport increased its number of damage claims by 22%.

Insurance needs vary depending on how much you can afford to risk. My advice? Better to be safe than sorry.

A car rental company’s optional insurance will cover most but not all damage. It’s convenient but pricey. A standalone policy costs less and sometimes covers more than the rental company policies. Travel insurance usually provides some kind of coverage but limits vary. It comes with added benefits like medical evacuation and trip interruption coverage. Your car insurance may work but usually, it has restrictions out of country and for certain vehicles. However, some companies offer an endorsement for full coverage.

There are also credit cards that offer car rental protection if you use it to rent the car, but there are also limits. So educate yourself to understand your best options.

Now if you have financial fears, I want you to call the Crown Help Line at 800- 722-1976, or you can visit us online at Crown.org.