Auto insurance experts are advising American car owners to verify with their insurance providers if they have rental car insurance. With more motorists choosing to rent cars when out of town on business trips and even vacations, proper car insurance has become even more important. According to specialists, many major insurance companies offer rental car insurance as part of their packages. Having this protection can be of great help for policyholders who figure in accidents with rental cars.
Rental car companies often offer collision waivers to their customers. Motorists can sign up for these waivers, which effectively releases them from any liability if the vehicles get damaged in an accident. While the offers may sound good, experts say that rental car companies usually charge customers more than they bargain for if they get involved in an accident. While the drivers may be protected against paying for any damages, they can still be held liable for a host of other expenses, including loss of income and possibly even replacement costs for the cars involved.
Most rental car companies charge hefty fees for the income lost while their company cars are in the repair shop. Even if the motorists pay for the collision waiver, they are not excluded from paying the amount of income lost by the rental car company. In these situations, many companies would often overcharge customers and claim unusually high income for the period in which their vehicles are undergoing repairs. With proper protection, however, policyholders can leave the issue to their insurance providers and never have to bother with any more claims.
According to many industry experts, policyholders should never take risks especially if they are fond of using the services of rental car companies. Motorists should also confirm with the insurers if their extended coverage protects them and their assets whenever they rent cars in other states or countries. Some providers’ coverage do not provide protection for policyholders who rent vehicles outside the U.S.
Drivers must also ask rental companies about the terms and conditions that accompany their collision favors. Clients can also ask for further protection and coverage from the rental companies. Unfortunately, not all rental firms provide the same insurance coverage on their vehicles. In these cases, it is up to the motorist to ensure that their insurance companies provide adequate protection.
Policyholders can also contact their insurance agents or representatives of their providers regarding rental car insurance. Some insurers would often recommend certain rental car companies that carry their coverage. This can often be the only solution to rental car insurance issues.