Do you need rental car insurance?

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PostPosted: Tue Jan 13, 2009 5:32 am   Post subject: Do you need rental car insurance?  

Hello friends, I am matthewjoshua, do I need to purchase car insurance for a car rental of 2 days if I carry comprehensive and collision on my own car? My car is being repaired under a warranty. The dealership is allowing me to rent a car, free-of-charge. I will return the car within 2 days. I carry comprehensive and collision insurance on my car. I am aware that I will need to provide gas upon the return of the car. Do I need to purchase separate insurance as well?

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PostPosted: Tue Jan 13, 2009 11:42 am   Post subject:   

Quote:
Hello friends, I am matthewjoshua, do I need to purchase car insurance for a car rental of 2 days if I carry comprehensive and collision on my own car?
No the coverage on your vehicle will transfer to the rental (including your deductibles) Rental car companys really push their 'damage waiver' coverage that is hugely expensive and typcially only covers your deductible...you do not NEED it..
Quote:
My car is being repaired under a warranty. The dealership is allowing me to rent a car, free-of-charge.
They are giving you a free loaner vehicle...
Quote:
I will return the car within 2 days. I carry comprehensive and collision insurance on my car. I am aware that I will need to provide gas upon the return of the car. Do I need to purchase separate insurance as well?
Nope you're good your coverage follows you to this vehicle...be sure you do fill the gas up though to where it was...if a rental car company does it they charge you about 10 bucks a gallon!


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PostPosted: Tue Jan 13, 2009 11:49 am   Post subject:   

Hi Matthew, you may wish to check with your insurance provider. The collision and component coverage of the auto insurance also covers the rental car. You may not have to purchase additional coverage for the rental car.



Its advisable that you get yourself covered even for two days. And mustn't drive without coverage.


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PostPosted: Tue Jan 13, 2009 12:46 pm   Post subject:   

anonymous 12

Quote:
Its advisable that you get yourself covered even for two days. And mustn't drive without coverage.
the OP is covered..his vehicle ins transfers to the rental.


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PostPosted: Tue Jan 13, 2009 2:54 pm   Post subject:   

Lori, you mentioned earlier in this post that the damage cover you purchase from rentals is not needed. We rent vehicles for long trips a few times a year. Since we are more likely to be in an accident while traveling a distance we always purchse that extra insurance. Why do you say it is not needed? I am definately not doubting you. I just know this year will probaly be another road trip so I thought it would be good to know the answer.

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PostPosted: Wed Jan 14, 2009 12:39 am   Post subject:   

Quote:
Why do you say it is not needed?
Because (IMO) it's stupid expensive...what is it like ten or fifteen bucks a day or more? If you read it (all the ones I've read) are a damage waiver, that covers your deductible only....now, if you don't have collision or comp you need it, (in fact they make you buy it then)...but if you have collision and comp it will cover (again the ones i've read) your collision or comp deductible only...so if you go on a two week trip and buy this (15 a day) you have paid $210.00 for this damage waiver...let's say your comp deductible is 250 will you spent 210 dollars to save 40... Rolling Eyes just doesn't make good financial sense to me...even if you have a 500 deductible...then of course if nothing happens (like with you so far Wink ) you are just out that money (on top of the rental charge of course)...so let's say you've bought this the last five years, for an average of ten days per year even at 10 bucks a day, you have already spent 500 bucks! And if you are paying 15 a day, you have ALREADY paid $750.00. How much is your deductible again? Wink



Make sure now, that you read the 'damage waiver' fully and ask the rental company if that isn't correct (covers deductible only).


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PostPosted: Sat Jan 17, 2009 12:26 am   Post subject:   

good to know Lori, I don't take many trips, I know one of the first things they ask you when you rent is for your car insurance. Makes perfect sense what you are saying, I guess we all should read the fine print. Reading it and understanding the right to use it could save us a ton of money.

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PostPosted: Sat Jan 17, 2009 12:40 am   Post subject:   

Thanks Lori. I had thanked you earlier but my post went missing. When it is all spelled out in front of you like this it does make more sense.

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PostPosted: Sat Jan 17, 2009 1:30 am   Post subject:   

Fireyone, how will you respond if they say you have to have it???? Do they offer it or tell you that you are gonna take it? is it a choice??? I don't take many trips that would make me take a rental, usually just take my own vehicle.

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PostPosted: Sat Jan 17, 2009 1:43 pm   Post subject:   

Quote:
how will you respond if they say you have to have it???? Do they offer it or tell you that you are gonna take it? is it a choice???
It is a choice or an option IF you have collision and comp coverage on your vehicle...some rental companys try to make it 'sound' like a have to...(their comission on this is HUGE)...but it is NOT required...


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PostPosted: Sat Jan 17, 2009 2:25 pm   Post subject:   

ERAC 'typcially' is a hard sell on damage waivers...if you just cut them off quickly, (ie--thanks but seriously i understand it don't want it)...too bad for them...but they (employees) are required to push it and have goals on the number they sell...



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PostPosted: Sat Jan 17, 2009 4:24 pm   Post subject:   

Some credit card companies use to pay up to your deductible on rental car damages if you used their card to rent the car. Anyone know if any cards still make this offer? Since many deductibles have jumped from 250 to 1000 dollars, I suspect even they have limits or have dropped this perk.



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PostPosted: Mon Jan 19, 2009 11:54 pm   Post subject:   

We have a Visa and a discover and have used both to cover car rentals. I have never had this offer before and we have rented for years. Wow that would have been some nice added incentive to use your card ,as long as you paid it off quickly.

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PostPosted: Thu Feb 16, 2012 6:30 am   Post subject: it depends...  

It actually depends largely on which state you are in. In the state of Minnesota even if you carry full coverage with your own insurance ONLY liability transfers to rental vehicles. Therefore anything that happens while you are driving a rental (regardless of fault) it becomes an at fault claim on your insurance (which can affect premiums!!). Most states you will have to pay out your deductible so its best to weigh out the cost of your deductible with the cost of the coverage. I live in MN and would recommend that anyone take at least basic coverage when they are in a rental vehicle.


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