Do you often wonder whether you should opt for rental car insurance along with travel insurance when traveling overseas? The truth is this particular question confuses most of the travelers. What usually happens is that when you are about to rent a car, the rental agents ask you if you want to purchase the insurance.
The important thing to remember is that when you do not have any insurance when renting a car, then this means that you are exposing yourself to considerable financial risk. If you get involved in an accident without insurance coverage, then you can end up losing a lot of money.
The essential aspect is that you need to find the features and benefits of car insurance to avail an insurance plan. The benefit of this practice is that you will be able to choose the best insurance plan that suits your convenience.
Different types of insurance to consider
If you are eager to avail rental car insurance, then it is essential to understand the concept of insurance first.
The first type of insurance that we will discuss here is collision/damage insurance. Well, it is a waiver that states that the rental company will not make a claim against you if the rental car gets stolen or damaged during use.
When you are traveling in your rental car during your trip, then you can opt for liability insurance also. The insurance protects you if you damage someone else’s vehicle.
Personal Property/ Effects insurance
Now, you do take your essentials along while traveling. There are times when your essentials may get stolen from your car while traveling. The personal property/effects insurance covers your personal items that may get stolen from the car.
Before opting for rental car insurance, you need to check out one important thing, and that is doing your car insurance also cover rental cars. If yes, then you will not require additional coverage. However, if the answer is no, then you can explore one of the insurance options mentioned above.
There are some other facts that you need to keep in mind also. For example, if your personal car insurance covers rental insurance, then in case of an accident, you may have to deal with high insurance premium in the future.
If you want to go for rental car insurance, then check out your credit cards first. The major networks do provide some sort of insurance. However, this is secondary insurance. It only works if your personal auto insurance agency pays various different costs to the rental agency.
The best approach is that when you hire a rental car during your travel, then you should inspect it first. If you notice any damage in the vehicle, then you should make it a point to inform the rental agency about the damage.
Follow these guidelines when renting a car during your trip, and this way, you will buy your peace of mind.