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Car Rental Insurance Question

Established Contributor

Car Rental Insurance Question

A bit OT, but definitely within the realm of credit and especially maintaining credit.
 
I need to rent a car next week. I have a truck that I bought new in 1996. I had always carried full insurance on it with all the bells & whistles and when renting cars always declined the extra rental insurance because my truck policy covered the rentals. Last year in an effort to save $$ I dispensed with the full coverage and now have liability coverage only. So, I'm in unfamiliar territory.
 
The rental angency will aggressively pressure me to purchase their insurance, but the cost would double the actual rental rate. I can't afford having an accident and the resultant rental agency expenses that could I could incur. 
 
I've found a few online companies that provide Collision Damage Waiver and "Loss of Use" coverage for a reasonable fee, about $9.00 per day. http://www.tripinsurancestore.com/rental-car-insurance.shtml
 
Has anyone used this method? It's much less expensive and I'm inclined to use it.
 
Thanks
Message 1 of 13
12 REPLIES
Established Contributor

Re: Car Rental Insurance Question

Have you talked to your auto insurance agent? You might be able to bump your current policy up to full coverage for a minimum period (like one month) and then have it revert to liability only afterward. The additional cost charged by your insurance company might be less than getting one-time coverage from the rental company or elsewhere.
Message 2 of 13
Established Contributor

Re: Car Rental Insurance Question

Good idea & thanks, but yes I did attempt that. My carrier requested a physical inspection of my truck to assess value (& probably to  head-off a fraudulant claim, ie: the truck could be damaged & the insurer <me> is trying to get the repairs done for the cost of a premium increase). I don't have time to schedule that before next week.

Revike wrote:
Have you talked to your auto insurance agent? You might be able to bump your current policy up to full coverage for a minimum period (like one month) and then have it revert to liability only afterward. The additional cost charged by your insurance company might be less than getting one-time coverage from the rental company or elsewhere.


Message 3 of 13
New Contributor

Re: Car Rental Insurance Question

Some cc's have rental insurance included when you use their cc to pay for the rental car expense. I know I have read it in some of my cc terms/agreements.
 
If you keep your agreement terms as I do, look back on them and see if they include rental car insurance as a bonus. If you don't still have your cc terms/agreements, you could call your cc issurers and see if they offer it.
Message 4 of 13
Established Contributor

Re: Car Rental Insurance Question

Do I keep the agreements???very-happy smiley I don't keep anything. Will be using Cap1 CC, thought I had seen that they do cover some rental insurance but not sure, did not see anything on their website. Good advice to call them & ask, thanks.

cbjn1103 wrote:
Some cc's have rental insurance included when you use their cc to pay for the rental car expense. I know I have read it in some of my cc terms/agreements.
 
If you keep your agreement terms as I do, look back on them and see if they include rental car insurance as a bonus. If you don't still have your cc terms/agreements, you could call your cc issurers and see if they offer it.



Message 5 of 13
Moderator Emeritus

Re: Car Rental Insurance Question

I have a CAP1 and I always use it for car rentals because of the ins. I don't remember how the ins. works but you can call them & ask. When I return the rental I then pay with another lower intrest card.
Message 6 of 13
Frequent Contributor

Re: Car Rental Insurance Question

I just got my Amex Delta card today.  They cover rental car insurance when I use their card.  I would call your card companies and ask them. 
Message 7 of 13
Established Contributor

Re: Car Rental Insurance Question

Checked with Cap1 today, the rep read the coverage language to me. When using Cap1 CC  the Collission Damage Waiver (insurance for repair/replacement of rental) is covered.
 
The 'Loss of Use' (of revenue by rental agency until repair/replacement) is not covered.
 
So, guess I will decline all additional fees by rental agency & not purchase the 3rd party coverage.
 
Thanks

HappyDays wrote:
I have a CAP1 and I always use it for car rentals because of the ins. I don't remember how the ins. works but you can call them & ask. When I return the rental I then pay with another lower intrest card.



Message 8 of 13
Established Contributor

Re: Car Rental Insurance Question...PS

PS-
The Cap1 rep was very nice, took the time to actually read the coverage info to me and provided direct phone #s to use in case I needed to file a claim. She asked if she could help with anything else and I wanted to ask for a CLI but I know their policy. She did offer a 0% balance transfer but they send those offers to me all the time.
Message 9 of 13
Contributor

Re: Car Rental Insurance Question



Anderson wrote:
A bit OT, but definitely within the realm of credit and especially maintaining credit.
 
I need to rent a car next week. I have a truck that I bought new in 1996. I had always carried full insurance on it with all the bells & whistles and when renting cars always declined the extra rental insurance because my truck policy covered the rentals. Last year in an effort to save $$ I dispensed with the full coverage and now have liability coverage only. So, I'm in unfamiliar territory.
 
The rental angency will aggressively pressure me to purchase their insurance, but the cost would double the actual rental rate. I can't afford having an accident and the resultant rental agency expenses that could I could incur. 
 
I've found a few online companies that provide Collision Damage Waiver and "Loss of Use" coverage for a reasonable fee, about $9.00 per day. http://www.tripinsurancestore.com/rental-car-insurance.shtml
 
Has anyone used this method? It's much less expensive and I'm inclined to use it.
 
Thanks


Do you have an AMEX? They have a full rental protection plan for just $25 per rental, NOT per day.
Message 10 of 13