What to Consider When Renting a Vehicle

June 19, 2013 at 9:00 AM | Posted in Auto, Insurance Policy, Personal Insurance, Rental Vehicles | Leave a comment
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When renting a vehicle for your vacation this year, here are some things to consider:

  • Your personal auto policy extends physical damage coverage to the rental vehicle, but the coverage territory is limited to the Continental US, its territories, and Canada.
  • Coverage extended from your personal auto policy will always be settled on an Actual Cash Value basis at the time of a loss.  You could be responsible for out-of-pocket expenses such as administration fees, depreciation vs. replacement value, and loss of use of the rental car.
  • If you purchase the Damage Waiver Coverage from the car rental agency, you are not held liable for any damage to the rental vehicle as long as you have met the requirements of the rental contract.
  • The credit card used to rent the vehicle may provide some coverage for the rented vehicle.  Double check to make sure it will cover administration fees, diminished value, and loss of use.
  • All drivers that may operate the rental should be listed on the rental contract in order for coverage to apply.
  • Most auto insurance companies now offer enhanced rental coverage that may provide some or all of the coverage you would normally purchase from the car rental agency

Before making any decisions on how best to insure the rental car, read your rental contract carefully.  If you have any questions on how your auto insurance coverage would respond to a rented vehicle, call Protector Group at 1-888-850-9400.

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