Things to Keep in Mind When Renting a Vehicle.

July 11, 2012 at 9:03 AM | Posted in Auto, Insurance Policy, Personal Insurance, Rental Vehicles | Leave a comment
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When you rent a vehicle there is so much to decide:  Should you pay for the Damage Waiver coverage? Who should you list as an operator? Should you extend coverage from your personal auto policy? Before you rent your next vehicle, keep a few things in mind:

  • If you purchase the Damage Waiver Coverage when you rent the vehicle, you are not held liable for any damage to the vehicle as long as you have met the requirements of your rental contract.
  • All drivers that may operate the vehicle should be listed on the rental contract in order for coverage to apply.
  • Physical damage coverage will extend from your personal auto policy only if you will be driving the rental in the continental U.S, its territories, and Canada.
  • Coverage extended from your personal auto policy will always be settled at Actual Cash Value at the time of a loss, which could leave you responsible for out-of-pocket expenses such as administration fees, diminished value, and loss of use of the rental car.
  • If you extend coverage from your auto policy and there is significant damage to a rental car, the rental company may decide to replace the vehicle rather than repair it. You could be responsible for the difference between the market value on the day you rented the vehicle and how much it is sold for at auction.
  • The credit card that you use to rent the vehicle may provide some coverage for the rented vehicle. Be sure to ask if it will cover administration fees, diminished value and loss of use.

If you have additional questions, please call us at 888-850-9400.


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