Finance USA

Apr 18 2017

Buying Cheap Car Rental Insurance #rental #property #search

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Buying Cheap Car Rental Insurance

If you need to rent a car, it may be worth looking into cheap car rental insurance. Sometimes the prices advertised by car rental companies are deceivingly low and will increase significantly when you add any optional insurance. However, car rental insurance doesn’t have to cost you a fortune, as there are a number of ways to reduce the price.

Existing Auto Insurance

If you own a car it’s a good idea to check your policy. Some insurers will allow you to cover a rental car on a short term basis, especially if you need to rent because your own car has been involved in an accident. Make sure you read all of the small print though because there may be exceptions or limitations on the cover. It’s unlikely that your insurance will cover you to drive a larger car than the one that you own. If you have any doubt call and speak to a customer service adviser. Even if you can’t use your insurance for free there may be a small fee that you can pay that is cheaper than taking the options on arrival as the rental company.

Check any other policies you have to see if they will cover medical liability or your personal effects. Some health insurance or personal injury policies that you already have may cover some of the options offered by the rental company. Be aware of any limitations for use overseas if you plan to rent the car on vacation.

Many credit card issuers offer insurance coverage if you use the same card to pay for the rental. It’s very important that you check that the terms and conditions you are reading are up to date as it’s not unusual for companies to change the terms slightly. It’s always advisable to call your card issuer in advance to clarify exactly what cover you can get so that you don’t find yourself in a difficult situation should anything happen to the car. If you’re hiring the car overseas make sure that there is a valid contact number the rental company can use on your arrival to verify the cover.

If you don’t own your own car but rent regularly it may be worth looking into a non-owner liability policy. These involve an annual fee and will save you from taking the car rental company’s optional cover. Before taking a policy make sure you fully understand any limitations or exceptions to the cover and don’t assume that it will apply for everything.

The best way to save money is to know exactly what type of coverage you will need. Plan ahead by contacting your insurer, credit card company and the rental company well in advance of your hire. Many people take the options offered at the counter simply for piece of mind and end up duplicating their coverage. It’s much easier to make a fully informed decision by accumulating the information in advance rather than standing at the counter with a queue of people behind you. Even if you still need to take some of the options on offer you may be able to make some savings.

Written by auto car quote free score credit insurance rental usa finance business student

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