Rental Reimbursement

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PostPosted: Tue Dec 30, 2008 6:34 am   Post subject: Rental Reimbursement  

I opted for rental reimbursement from geico. $30/900max. Does this guarantee that they will provide me with a rental. I am 19 years old and I only know of one small rental company that no one has heard of that will rent to me for no additional charge. I dont care what car they provide me but will I be able to get a rental. The big rental agencies that provide cars for under 24 charge about $50/day here in NY. Will I have to pay the difference plus the rental fees?

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PostPosted: Tue Dec 30, 2008 11:34 am   Post subject:   

Well, the rental car reimbursement is an optional coverage and if you are looking for reducing the cost of coverage you may not want to add this option to your policy. The rental car reimbursement coverage would pay for the rental car when your car would be at the repair shop.



IMO, you'd be better off if you add this benefit to your policy. However, you may even be better off by not adding it to your policy. Check the benefits along with the cost of coverage to decide.


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PostPosted: Tue Dec 30, 2008 1:51 pm   Post subject:   

Hi Crazed, Welcome to the forum. I carry rental on my policy too and have never had problems with it. If you are in an accident it really is halpful to have. I am not sure whether you will be charged the higher rate or not. I am sure you will get your answer here but if not I would call your carrier and ask them. It may be that after an accident the rental car place must accept what the insurance company is offering them..which is the $30 a day. Someone with more knowledge should answer soon. It is an interesting question.

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PostPosted: Tue Dec 30, 2008 3:00 pm   Post subject:   

Rental coverage does not guarantee that the rental company will rent to you. That is between you and the rental company. Rental coverage only guarantees that the policy will pay for the expense up to the policy limits.

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PostPosted: Tue Dec 30, 2008 3:12 pm   Post subject:   

There is also a big difference in rental 'reimbursement' and 'rental coverage' (in my state anyway)...also you do understand don't you OP that this rental coverage (or reimbursement) is available ONLY if your vehicle has been involved in a covered loss right?



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PostPosted: Tue Dec 30, 2008 4:51 pm   Post subject:   

thanks everyone. I understand the coverage is if I get into an accident. I remember when I first signed up for it in May they told me Geico is the one to set up the rental and i wouldn't have to worry about it. I think I should get in contact with them again. If it will just reimburse only $30/day and I would have to pay the difference I don't think the coverage will be worth it. I can go a couple of days without a car if mine needs repair.

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PostPosted: Tue Dec 30, 2008 5:53 pm   Post subject:   

Gieco should be able to get you their rate...thru them to pay your rental...I don't know where you are in the country but the ins rate where i am is about 22.99 a day...ask your adjuster for assistance.



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PostPosted: Tue Dec 30, 2008 11:28 pm   Post subject:   

I was thinking that earlier. Usually if your carrier sets up the rental car the rates are much better. I never had to set up any myself. When my hubby a couple deer our insurance company would arrange everything for us and all we had to do was go pick up the car. A couple times when it went in for epairs they actually had the rental place meet us at the garage. I am pretty impressed with my coverage on this. We haven't use it much since we uaually have 3 vehicles..unless one was down for some reason and thats not often. I just figured if our vehicle was hit or damaged and we still had two others to run why use the rental insurance.

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PostPosted: Wed Dec 31, 2008 3:35 am   Post subject:   

I would think that the company is only going to pay the per day rate to youo for a rental car anything over that amount would be your responsiabilty along with the security deposit. You should call the renatl car company that your insurance compnay has a deal with and see what they say. But I have heard of the rental company denying a rental to someone due to age.

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PostPosted: Wed Dec 31, 2008 8:22 am   Post subject:   

If I get denied due to age, am I entailed to a refund for the premiums I paid on the rental reimbursement?

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PostPosted: Wed Dec 31, 2008 10:56 am   Post subject:   

You won't be denied for age...most will rent to anyone 21 and over without question, and even to 18 and over with an insurance company's authority.



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PostPosted: Wed Dec 31, 2008 1:04 pm   Post subject:   

Hey Lori..as you've mentioned that there could be differences for a 'rental reimbursement' than a coverage..it would be better if you'd state the differences for us...say for example how things would differ in your state.


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PostPosted: Wed Dec 31, 2008 2:33 pm   Post subject:   

Its good to know that age may not matter. The way I look at it if someone around the younger age is resonsible enough to carry the coverage that has to show a little on their part.

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PostPosted: Thu Jan 01, 2009 1:58 pm   Post subject:   

Quote:
Hey Lori..as you've mentioned that there could be differences for a 'rental reimbursement' than a coverage..it would be better if you'd state the differences for us...say for example how things would differ in your state.
Sorry, I should've explained Embarassed 'rental reimbursement' is just that the insured pays and is 'reimbursed' based on their policy limits...rental coverage or loss of use, 'can' work the same, but generally rental is paid (per policy limits of course) directly to the the rental agency, the insured is not out of pocket...also loss of use, is paid a day rate, (whatever the policy says)...rental has a limit, say it's 30 a day, but if the carrier can get the insured in a rental for 25 a day then they would pay that, the 5 left over is not paid to anyone.


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PostPosted: Thu Jan 01, 2009 3:00 pm   Post subject:   

Glad somene asked that question. I thought I knew what the difference was but wasn't completely sure. Is loss of use usually paid by the other insurance company if their driver hits you? I added rental reimbursement a couple years ago but when I was hit I had to wait until the other driver made a report of the accident before I was supplied with another vehicle (rental). The other comapny paid not mine. I am thinking rental reimbursement comes into play if you yourself was "at fault" for an accident and you would need a vehicle until yours was repaired. Right?

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