If you rent a car, do you need to purchase insurance through the car rental company?
This is a frequently asked question regarding insurance and, luckily, the answer is rather simple. If you have an auto insurance policy that has third-party liability (UM/UIM), comprehensive and collision coverage, you can realistically reject all insurance coverage presented by the rental company. Make sure to check your policy or talk to your agent here at Insurance Professionals of AZ to be sure particularly if you rent frequently.
How would it cover you?
Your policy comprehensive and collision coverage would pay for the physical damages to the car you rented. The deductible listed in your policy would still be required from you, but you would be covered for these damages. However, if the insurance policy you currently have does not provide comprehensive and collision insurance, you would want to purchase the loss or collision damage waiver offered through the rental company. If you didn’t have any coverage and experienced a loss, you could end up buying THEM a new car and have to pay the expense required to pay off legal judgments.
Additional things to know:
Pretty much all other types of rental coverage are generally a rip-off. Personal accident insurance is just a “special-purpose” life insurance product and is really never a great idea. Life insurance should be purchased to cover the loss of life. Policies for healthy individuals are rather inexpensive. If your personal belongings are stolen from the rental car, your homeowner policy or renter insurance should provide coverage for the loss.
If you have questions regarding what your policy covers, contact your agent here at Insurance Professionals of Arizona today (480)981-6338.