It’s summertime, and the living is easy. Getting ready to hit the road, ready, set, and go!
But wait a minute, what did you forget? Who rented a car, declined the coverage offered by the car rental company, and later regretted it? Does my auto insurance cover that? How expensive is it, anyway?
Summer vacation, really any vacation, is a wonderful opportunity to recharge, relax, and recuperate from the everyday routine of life. We do well to investigate a few aspects of the journey to make it everything you want it to be. Insurance is one of the last things on your mind. Extra expenses are at the bottom of the list for how you want to spend your vacation cash.
For example, do you really need to buy the car rental insurance policy? Weigh your options carefully before you arrive at the car rental insurance counter. A call to your own insurance company. A call to your credit card company. Two steps that will have you ready to rock and roll when you have to decide to purchase the car rental insurance.
Explaining the details of the trip to your auto insurance agent will help you assess how coverage from your personal vehicle policy might apply. State Farm, one of the country’s leading insurance companies, offers some solid suggestions and good questions to ask your agent these key questions:
- How much liability, comprehensive, and collision coverage do I have on my personal vehicle? These coverages may extend to your rental car.
- What are your physical damage coverage deductibles? These deductibles may apply to your rental car.
- If items are stolen from the rental car, does your homeowners’ or renters’ insurance provide coverage?
- Does your personal auto policy cover loss of income coverage? If the vehicle becomes damaged during your rental time and repairs are needed, the company may charge you for the vehicle’s potential earnings while it is being repaired.
If you are using a credit card to pay for the car rental, a call to that company may be well worth it. The card issuer may offer secondary car rental insurance at no charge. In general, this coverage will be used after your personal auto insurance policy is used. Credit card coverage varies from card to card and the institutions that issue the cards. This coverage typically only helps with additional expenses, such as reimbursing your insurance deductible. Go to your card’s website or call the number on the back of your card for information.
