With today’s fluctuating economy, where the very basic needs of a human are already very expensive, the wisest thing you should do is to know where your every cent goes to. So, that is why you should invest in your car insurance policy. Getting low cost car insurance may be a difficult thing to do, but if you would really look, you are bound to find one. Purchasing an insurance policy may seem like an added monthly expense for you, but it would surely save you a lot of money once you get involved in an unexpected incident while driving.
When you go outside of your state for a vacation or a business trip, you most likely would rent a car. In renting a car, you are also faced with the crisis of whether or not you should buy car insurance. Car rental companies offer their borrowers a different set on insurance policy. Whether their borrowers are covered or not, they still offer two types of waivers wherein their borrowers could purchase to insure the car they rent from the company.
Car rental companies do not collaborate with insurance companies which is why they offer their borrowers either a Loss Damage Waiver (LDW) or a Collision Damage Waiver (CDW). The CDW replaces your collision and comprehensive coverage. When you buy these car rental offered insurance would just cost you more money, however, when you don’t buy them, you might be involved in an accident or you might damage the car you rented and you have to pay for the repairs which might cost an even larger amount of money.
When you are dealing with cars and insurance you have to really be careful since these things involve a serious amount of money. When you are not covered by collision or comprehensive coverage, it might be practical if you bought an LDW or CDW when you rent a car. Make sure to choose the one which would give you the maximum protection. If ever you already are covered with collision and comprehensive insurance policies, you could get the LDW to maximize your insurance protection.
If you still do not have any insurance coverage since you want to get low cost car insurance, you must first compare each insurance policy offered by your credit card company, the car rental company and non-owners auto insurance which is offered by other insurance companies.
Car insurance policies is already a requirement in 47 out of 50 states, and these states would also tell their car owners what type of insurance policy they are required to at least have. In other words, the state tells car owners what the minimum insurance policy is. Most states would have the liability insurance coverage as the minimum insurance policy each licensed driver should have.
Before doing anything, you should always read and understand your auto or renter’s policy before renting a vehicle. When you fully understand the terms and conditions each policy requires and offers, it would be a big help when you decide whether or not you should buy car insurance and which policy you should buy.