Do You Need The Optional Rental Car Insurance?

If you’re using a rental car then you are probably traveling for work or pleasure, or getting some repair work done on your own car. No matter what your reason for renting is, the person behind the counter is going to try to upsell you some rental car insurance. It sounds legit so you’re about
to sign, but hold on for a quick second and think, do you actually need additional auto coverage?

The majority of insurance plans will cover you even if you happen to be driving a rental car. Always call to check with your agent first before making any changes but 9 times out of 10, you’re covered just fine with whatever you already have. And you’re already paying for it, so
why add another fee on to your bill?

If you get into an accident while using your rental car, you will file a claim just like you would normally do. Your personal policy premiums might increase after an accident as well. If you don’t choose to take out the optional insurance policy the car rental company may require a deposit be made to your credit card until you return the car back safe and sound.

Types of Insurance Offered By Rental Companies:

Collision/Loss Damage Waiver – Costing as much as $20 a day, this covers theft or damage to the rental vehicle in a collision. If you don’t have comprehensive or collision coverage already then you might want to get this. If you do have coverage already, keep what you have and skip this one.

Liability Insurance – The liability coverage will cost about $15 a day for $1 million in coverage, but it isn’t necessary if your personal auto insurance policy provides adequate liability coverage. Many people already have this coverage.

Personal Accident Insurance – For about $5 a day, this covers medical bills for you and your passengers for injuries resulting from a car crash. Your personal health insurance or personal injury protection on your auto policy probably provides adequate coverage and there is no reason to buy more.

Personal Effects Coverage – This will cover any personal property stolen from the vehicle but your homeowners or rental property coverage might already cover this. Also, don’t keep valuables in your rental!

So why would someone choose the rental car insurance? There are a number of reasons this might happen. For example, if you only carry liability then you would want to take out the full coverage plan being offered by the rental company. If the rental insurance has a cheaper deductible then that might work out to be a better deal for you as well. The best way to find out what you already have and what you need, is to call your Oklahoma car insurance agent at (918) 341-2056.