Knowing When To Pass On Rental Insurance
People are often advised by friends and colleagues not to pay for supplemental car insurance when renting a car. The logic behind this advice is that usually the credit card you use to rent the car is already covering the rental, as well as your personal auto insurance. While these facts maybe true, there are still some reasons to consider paying for supplemental car insurance, such as deductibles and the amount of coverage you currently have.
Any minor damage to a vehicle that you have rented, as per the standard rental agreement, is your responsibility. Whether or not you are at fault, whether or not you were driving the car or it was parked at the time, any dents, scratches or other minor exterior damage will be your responsibility to pay for.
If the cost to repair the minor damage is too small, it could be the case that your credit card company and personal car insurance would not cover the costs. Even if you report that damage to the police and insurance company immediately, it is quiet possible that the insurance company could bill you for the damage after you thought everything was taken care of.
Typically, the cost to repair these scratches, dents or dings is less than $1000. Supplemental car insurance can cost as little as $10 a day. Supplemental car insurance can provide peace of mind, and not have you worrying about whether or not your car insurance or credit card company will cover the cost of minor damage.
If the cost to repair minor damage is under $1000, it is easy to see why many still think it would not be worth it to purchase the supplemental insurance. However, considering the fact that the supplemental insurance could have cost you between $50-$100, the insurance would provide significant savings. Add on top of that the aggravation and hassle of dealing with the paperwork necessary if the car did get damaged, and the supplemental insurance may be worth it in the long run.asd
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