4 things you should know about rental car insurance

If you’ve ever rented a vehicle, the daunting thought of “what happens if I’m in an accident” has most likely crossed your mind. Do I really need rental insurance? But what if I have personal vehicle insurance? Doesn’t my credit card cover me? These are all valid questions, however doing a little research could end up saving you from a hefty car rental bill. Here are four important facts about car rental insurance that could save you a fortune.

1. Rental Insurance is additional. Upon signing the rental agreement, most rental companies offer collision damage, third party coverage and even roadside assistance for a small fee. In the event that you opt out and take your chances, the rental car company will have their own insurance coverage – however you will be responsible for reimbursing them for all incurring damages.

2. Your current car insurance policy may have you covered. Whether your car is in the shop or you’re avoiding tacking on extra mileage for a weekend getaway, your current insurance policy you may still have you covered. There are features that can be added to your policy which provide coverage for both personal and rental cars.

3. Paying with your credit card could automatically provide coverage. Depending on your credit provider, rental car insurance may be included in your benefits when you book and pay with your credit card.

4. Your home insurance policy can also extend to car rental insurance. Third party liability is always a part of any home insurance policy. Speak with one of our Relationship Managers today to review your vehicle and home insurance policies to see if you’re already covered 1-844-249-1700.