Details about Auto Rental Insurance

If you rent a vehicle through a rental company, they may provide you with options to insure the vehicle. These options may include damage waivers or rental insurance. This optional insurance may cover the costs of the rental vehicle if it becomes involved in a collision or there is other damage done to the rental car. The damages waiver may come with a fee that is charged daily, as well as a possible deductible.

Vehicle rental companies may offer their customers two types of insurance: loss damages waivers and collision damages waivers. The rental company may also allow customers to use supplemental insurance. This is sometimes referred to as additional liability insurance. Loss damages waivers and the collision damages waivers may take care of the costs of the rental vehicle if you experience a car accident or the vehicle is stolen. A few rental companies will handle the total costs of the vehicle’s repairs while others may charge a deductible. Additional supplement insurance is designed to add more coverage to your current policy.

Loss damages waivers, as well as the collision damages waivers, may cover repairs to the rental vehicle and replace the vehicle if necessary regardless of what country you are driving in. The auto rental company may not cover the costs of damages if they were a result of speeding or reckless driving. For more information on borrowed vehicles, please read “Lending Someone a Vehicle? Temporary Auto Insurance is Appropriate”.