If you’ve ever rented a car before, then you know that one of the questions they ask you is whether you want to purchase their rental insurance. In all honesty, the answer depends. The unfortunate part of this is that most are unsure whether they are good to go without purchasing the extra insurance or if they actually really require to avoid hassles in the event of an accident.
In order to make a well informed decision regarding car rental insurance, consider the following:
- If you already have auto insurance, then your policy will probably cover your rental car. However, contact your agent to double check.
- Just because you have selected to have rental coverage on your auto insurance policy, it does not mean that a rental car is covered if it is damaged while you are driving. Instead, this coverage is to pay for you to have a rental car while your primary vehicle is being fixed after an accident.
- There are different types of additional rental car coverages offered by the rental car company. These are:
- Damage Waiver – This simply takes into effect if your rental car is stolen or damaged. If you’re speeding or driving drunk and cause an accident, it won’t cover it.
- Supplemental Liability – This generally provides as much as $1 million in extra liability protection. Basically, if someone were to file a claim against you while driving the rental car, this coverage would take care of it.
- Personal Effects Coverage – Also PEC, this coverage will protect your personal belongings if damaged.
- Personal Accident Coverage – Also PAC, this coverage will pay for injuries sustained while driving a rental car.
Additional insurance from the rental company can be pretty pricey, but depending on your individual situation, it may be beneficial. Speak with a professional auto insurance agent here at Insurance and Mortgage Services in Illinois to request more information.