Auto insurance experts are advising motorists to purchase additional protection for any rental vehicles they may use during out of town travels. Rising repair costs and increasing prices of spare parts are forcing many rental companies to become stricter when dealing with any damage to company vehicles. Having the proper protection can help drivers avoid paying substantial amounts for repair expenses.
Specialists also add that the motorists’ problems can even be compounded especially if they are renting vehicles abroad. This can mean not having the same insurance coverage as they did back in the U.S. Experts add that this can pose a problem even for policyholders who have taken out additional rental coverage. With several long holidays coming in the next few months, analysts say that more Americans will take to the roads. They point out that a significant portion of these travelers use rental cars instead of taking their own vehicles, making rental car insurance a primary concern.
However, drivers can also make use of alternative ways to make sure that the vehicles they will be renting get the same level of protection as their own cars back home. Aside from money involved, policyholders must also keep in mind the hassle of dealing with insurance matters in other states or countries. On top of that, motorists can also risk losing their personal assets if insurance problems get worse.
First, drivers can ask their insurance providers if they are covered whenever they rent vehicles within the states or in other regions. Most insurers often cover rental cars with their policyholders’ insurance policies. Basically, drivers are protected against paying any repair expenses if they cars they are renting sustain any damage while in their possession. For business trips, professionals must first confirm with their employers and their company car insurers if rental vehicles are included in the coverage.
An alternative to conventional auto insurance would be to rely on the insurance coverage most major credit card companies offer. Card issuers sometimes include auto insurance as part of their products’ features. The downside is, these card firms would often only reimburse cardholders for any repair costs they incur. This makes them almost useless if motorists need immediate financial assistance after a car accident.
In most cases, experts say that the best way is often to pay extra for added insurance offered by most rental car companies. Collision damage and loss waivers (CDWs) protect motorists against damages caused by accidents and even car theft. Other waivers also provide ample protection in the event of injuries.