Do I need to buy rental car insurance?

Do I need to buy rental car insurance?

Rental car insurance protects you against the payments of repairs if you had an accident in a rental car. It doesn’t matter where you purchased rental car insurance. You can purchase insurance from the rental agency and can use your own insurance policy.

Check and compare insurance quotes from different insurance companies to select the best available option before renting.  You can use your own insurance policy after discussing it with the insurance agent if the amount of coverage is sufficient under your insurance policy.

These two methods for rental insurance may be less expensive than buying an insurance policy directly from a rental counter.

Best rental insurance policy

Your own auto insurance:

Coverage you select under insurance policy together with its deductibles can also be used for rental cars. Like collision coverage helps to cover the payments of damages to your car. Usually, collision coverage is more than any other type of coverage. But you need to pay a deductible for collision coverage.

Comprehensive coverage helps to cover the damages due to theft, fire, vandalism, animal collision, and other collisions to any car that you are driving. Comprehensive coverage is more than the minimum insurance limit.

Liability coverage in car insurance protects you against the damages to others’ property and medical expenses if you had an accident and you are at fault. Comprehensive and collision coverage helps to cover the expenses if they exceed the minimum limit but liability coverage protects you up to the limit of your policy. 

Credit card insurance company

Credit card companies also offer insurance for rental cars. Most of the companies give free rental car insurance to their customers. On the other hand, some companies give discounts on rental car insurance if the customer purchased the insurance policy from the rental counter. MyMoneyMyQuotes recommends you collect the details of your insurance coverage in physical form from the credit card company if you bought car insurance from them. Coverage for car insurance is different in different credit card companies, these are not the same in every company. Most credit card companies provide insurance policies that cover only damages to your own vehicle. Some companies sell policies that do not protect you against death claims and medical expenses of injuries to you.

Rental car insurers

Different types of insurance coverages are offered by rental car insurance companies. These insurance coverages help the customer to protect against the liability to others and the expenses of damaged rental cars if you had an accident.

Loss damage waivers and collision damage waivers in car insurance policy protect you against damages due to an accident, vandalism, or if your rental car gets stolen. Loss damage waivers and collision damage waivers are somewhere similar to collision and comprehensive coverage. Collision damage waivers sometimes come under the loss damage waivers and you need to pay deductibles in some cases. Always use safety measures because your coverage may be canceled if you’re responsible for crash and damages are caused due to your negligence. 

Loss damage waivers(LDW) and collision damage waivers (CDW) are duplicate coverage for collision and comprehensive coverage. LDW and CDW usually cost around $13 to$22 per day. If collision coverage and comprehensive coverage exist in your insurance policy then you have no need to purchase LDW and CDW. These waivers are not available in writing. 

If you are not satisfied with the coverage limit of your rental car insurance policy then you can buy other available coverages from the insurance company. Extra coverage costs you around $10-15 on a per day basis. This offers you coverage of more than million   dollars to cover the property damages and expenses of injuries to others. Rental car insurance takes the place of liability insurance if you buy the insurance company. But, we recommend you to buy an umbrella insurance policy because it may be more worthy than others.

Different auto rental companies provide insurance for death claims and personal property damages. This helps to cover the hospital expenses and provide death benefits to the driver and passengers. Some companies offer death coverage, or medical expenses for injuries if you had an accident, and ambulance expenses.

To cover the damages if your car gets stolen, some companies provide personal effects coverage for personal property of their customers.

Should you need to buy rental car insurance?

Rental car insurance covers the costs of the damages if you had an accident. It is not possible to buy all the insurance policies because it will make your expenses more than coverage. But if you did not buy any car insurance policy then it will put all the expenses of damages to you and others in your pocket if any accident happens. So it is wise to choose the best car insurance policy.

Before buying any rental car insurance you should check and compare the insurance quotes from different companies. Also review the rates of insurance policies by credit card companies, rental car companies, and other insurance companies It is a cost-worthy to purchase loss damage waivers and collision damage waivers if you don’t have collision and comprehensive coverage in your insurance policy.  Because these waivers protect you to cover the cost of damages more than the minimum limit. You need to pay deductibles if the car gets stolen and damaged in a crash.  If you have collision and comprehensive coverage then skip buying LDW and CDW because it just increases your expenses.

In some states, it is mandatory by the law to provide minimum insurance coverage by rental companies without any payment. If you purchased liability insurance then there is no need to pay deductibles in case of any case of an accident.

If your insurance policy includes health, homeowners, renters, and life insurance then it will incur double expenses on your pocket to buy accidental death insurance and personal property insurance. Medical expenses are covered by life insurance and health insurance no matter which car you are driving. Damages of your property due to theft or crash are covered by the homeowners and renters policy

Insurance  options for rental cars:

You must first analyze which policy you want to purchase and check your existing policy before renting a car. Compare car insurance quotes of different insurers and compare their policies to select the best policy you need. empowers and allows  consumers to shop and compare auto insurance quotes online for free and find the best and cheap rates for auto insurance. 

It’s totally free at to compare auto insurance quotes and the best part is, it is quick and only takes a couple of minutes. 

We empower our consumers by providing important information and guiding them through sharing key points as it relates to auto insurance quotes and policies. This helps consumers make a more informed and sound decision for their auto insurance needs.


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