Should I Buy Insurance When I Rent A Car?

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If you have ever discussed rental car insurance with someone who travels a lot, they may have told you that rental car insurance is a rip-off and is totally unnecessary. Or, if you have discussed rental car insurance with someone, you may have been told that you should always, always purchase rental insurance - that failing to do so is a huge mistake. In order to understand which of these two opinions is the truth, you need to understand a little more about rental car insurance.

It is absolutely true that insurance companies make a profit off of charging for insurance; however, this does not necessarily mean that you should skip insurance altogether. After all, if you get in a wreck, you will certainly want to make sure that you are not stuck paying for the cost of the repairs on your own! At the same time, however, there is a good chance you will not be stuck paying for the repairs on your own - even if you did not purchase insurance.

If any of the vehicles that you own have complete coverage on them, this coverage will carry over onto any rental vehicles you might drive also. If you do have complete coverage on any of your vehicles, it is actually nothing but unnecessary money spent if you purchase the rental car insurance as well. If you get in a wreck, with your own insurance covering you, you will only have to pay the deductible - just as you would in your own car.

You should know, however, that your regular insurance will not cover you for loss of vehicle to the rental company. This means that you will be stuck paying to rent the car for extra days if you get in a really bad wreck that puts the car in the shop for a few days. Car companies offer loss of vehicle coverage, but this is also often as high as $25 per day - and might not be worth the money!

Before you travel, check with your own insurance agency; it is important that any rental car you drive be covered, but you may find that it is covered already, without you having to pay any extra money!