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 Posted: Thu Sep 25, 2008 3:52 am Post subject: Rental auto insurance:what does it cover? |
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In case I wanna rent a car...do I need to obtain auto insurance for that??
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Purpleheaded08
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| Posted: Thu Sep 25, 2008 4:09 am Post subject: |
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Hi there..
See, I must say that collision and comprehensive coverage is a must for you. Under circumstances that you don't have auto insurance, you'd always have the option to purchase insurance from a car rental counter. This collision coverage would feed for the repair costs post any form of collision involving your car. At the same time the comprehensive coverage would cover for the associated expenses other than collision e.g. other damages from factors like hooliganism, flood , burglary etc.
Evan |
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evan
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| Posted: Thu Sep 25, 2008 4:24 am Post subject: |
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Hi, I'd also feel that you'd have opportunity to opt for a non-owner auto insurance liability coverage.
While renting cars in a row it could be a natural practice to go for the non-owner auto liability insurance as an option rather than choosing a coverage from the car rental shop all the time. You may opt it once for your car and it would remain valid for the entire year. So, you see you could safe following these ways!
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ArindamSenIndies
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| Posted: Thu Sep 25, 2008 4:32 am Post subject: |
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Hey..I've seen it quite a few times in my life that guys would opt for an insurance coverage only after they have seen the ugly face of the accident creeping into their lives. The need is felt all of a sudden when they would need to file claim with their insurance co. They know this is the time they are actually applying for a help to repay their expenses towards their car rentals, repairs & the associated expenses too!
They would only be surprised to discover that auto insurance is not automatically designed to cover the worth of a replacement car rental once they are in an accident. So, that's the importance of rental auto insurance.
Evan |
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evan
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| Posted: Thu Sep 25, 2008 4:39 am Post subject: |
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Hi guys,
I think the cars would usually stay within the repair a shop for at least 14 days once it gets involved in an accident. During that time you might just need to spend around $500 to rent a car as its replacement. In comparison, some of the drivers would just expend a bit (or may be nothing at all) towards it under circumstances that they have opted for a rental reimbursement. So don't you feel you have a real good option for it ..yeah, you would always have the option to find it out whether it is good or bad for you. Thanx, ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 25, 2008 5:07 am Post subject: |
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| Hi Arin..rental reimbursement could be good option for this cause provided that you're ready to pay this $1 -$2 for each auto insurance policy that you may have. But there are people who'd always have the option to think that it is never possible for them to get involved in an auto accident. There are also a handful who'd believe that it is better for them to shop for the least premium-packs available in the auto insurance industry. Evan |
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evan
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| Posted: Thu Sep 25, 2008 5:25 am Post subject: |
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Evan...don't you all think that the worth of the rental replacement would accumulate even faster?
There are instances that people didn't even have accidents for 8-9 years in a row!
Purpleheaded08
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Purpleheaded08
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| Posted: Thu Sep 25, 2008 5:33 am Post subject: |
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| Yes Purpleheaded08, you may say that the cost accumulates faster. That's the reason the coverage would bear its own cost when you'd look for it the most. The fact that you have not suffered any auto accident for 8-9 years adds more sense to it automatically. Regards, Evan |
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evan
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| Posted: Thu Sep 25, 2008 5:39 am Post subject: |
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| Quote: | | In case I wanna rent a car...do I need to obtain auto insurance for that?? |
Its not mandatory though, but the renter may insists that you purchase a coverage for the rented vehicle. This is mostly done to prevent the renter from experiencing losses.
Upon your requirement you may find the renters policy at the renter's outlet, but often these are overpriced and may include redundant coverage. Hence, before you purchase the rental car insurance, it'd be wise to check out with the auto insurer. More often the rented vehicle receives coverage under the primary auto policy of the vehicle owner.
Another source of coverage can be the credit card that you have used for renting the car. The credit card companies offer rental car insurance to their customers as an added benefit with their cards.
Moreover, if you are in habit of renting a car most often, purchasing a non-owners insurance would help you in saving bucks. The non-owners policies are cheaper than the traditional renter's policies.
~jeremy |
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JeremyHolter
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| Posted: Thu Sep 25, 2008 5:43 am Post subject: |
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Guys..on many occasions I have seen that it consumes more time to analyze and work out the details associated with an auto insurance claim, when you're in touch with the insurance carrier and working hand-in-hand. Even when it is the other driver's fault, you will see that it often takes more than your expected time to persuade the other party's carrier to feed your car rentals. On the other hand, if you have your own coverage then you would not need to waste your time in doing all these.
ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 25, 2008 5:57 am Post subject: |
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But guys, to tell you the truth I was going through some insurance journals a couple of days back. It was quite clearly mentioned that we may have the choice to avoid the extra rental auto insurance policies that the rental auto companies would offer us. I am talking about coverage e.g. Loss/damage exemption, Personal accident coverage on the rental cars.
In case we opt to avoid such coverage that seems extra, it might result in savings worth $15 or even higher per day. So, it is always a better option to check out these facts with our insurance carriers & our credit card companies. Evan |
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evan
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| Posted: Thu Sep 25, 2008 6:26 am Post subject: |
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Hi Purpleheaded..I think all US citizens could have their own rental auto insurance for rental car to cover them for that purpose with the exception when they may obtain an unusual vehicle.
You should know it very well that there exists policies that would often exclude luxurious vehicles, convertibles or SUVs. You would just need to consult your insurance carrier and make sure that your policy provides for such rental cars. Also make sure of the type of cars that they would cover for. I'm sure that would lessen your concern quite a bit. ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 25, 2008 8:11 am Post subject: |
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Hi Purple..do you own credit cards??
There are quite a few upgraded charge cards or credit cards that would offer such insurance benefits for your rental car. I've experienced such benefits mostly through the cards that have been offered from renowned banks e.g. AmEx gold/platinum value cards. You'd find such benefits attached with some of the other master or visa cards. But yeah, as it is often said it is truly important to call up the carriers & know the benefits inside out before you opt for any of them. Evan |
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evan
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| Posted: Thu Sep 25, 2008 9:30 am Post subject: |
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Hi, I'd just like to say one thing over here-
In case you have decided that you're not gonna opt for any rental car insurance through any rental car agent, you'd better make sure that no such coverage gets attached with your papers. Complaints are coming up from a number of people who say that they had initially denied opting for such coverage & later on got charged for the same once they returned the cars.
This kinda incidents would certainly have great impact on the rental charges. It was revealed later on that many of them had actually been asked to put their initials over a certain option which had actually signified their consent to opt for the said coverage. It is truly important the you read the documents that get forwarded to you via the agency, since such cases are getting registered for different agencies each day. ArindamSenIndies |
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ArindamSenIndies
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| Posted: Thu Sep 25, 2008 11:17 am Post subject: |
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Dear all, talking of the card insurance companies I remember that some of the cards would just give you the nominal 'Gap insurance' benefit. It would only suffice to cover for the deductible of your personal car. On the other hand there are certain cards in the market...which would offer you a 'secondary coverage' which would provide for a coverage in excess of the amount to be covered by your personal car insurer. So, in going for that you'd first need to file a claim with your personal car insurer. Hence, you know the catch!
Roddick |
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roddick
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