What Is Auto Rental Collision/loss Damage Insurance
What Is Auto Rental Collision/Loss Damage Insurance?
When you rent a car, there are a lot of decisions you need to make. One of them is whether to purchase auto rental collision/loss damage insurance. This type of insurance is designed to cover the cost of any damage to a rental car, whether it is caused by an accident or something else. But what exactly is auto rental collision/loss damage insurance? Let’s take a look.
What Does Auto Rental Collision/Loss Damage Insurance Cover?
Auto rental collision/loss damage insurance covers the cost of any damage to a rental car caused by an accident, theft, vandalism, floods, fire, natural disasters, or other perils. It can also cover the cost of any personal items that may have been stolen from the rental car. Depending on the policy, it may also cover the cost of towing or a rental car if the rental car is damaged beyond repair or stolen.
Who Needs Auto Rental Collision/Loss Damage Insurance?
If you are renting a car, it is a good idea to consider auto rental collision/loss damage insurance. This type of insurance can help protect you financially if you are in an accident or the car is stolen. Even if you have your own auto insurance, it may not cover the cost of a rental car, so you may need to purchase additional insurance. If you are uncertain whether you need auto rental collision/loss damage insurance, it is a good idea to contact your auto insurance provider and ask.
Do I Have to Buy Auto Rental Collision/Loss Damage Insurance?
No, you are not required to purchase auto rental collision/loss damage insurance. However, it is a good idea to consider it, especially if you are renting a car for an extended period of time or travelling in an area with a high rate of car theft or vandalism. You should also consider the cost of the rental car and the size of your deductible on your own auto policy. If the cost of the rental car is high and your deductible is large, auto rental collision/loss damage insurance may be a good option for you.
Where Can I Buy Auto Rental Collision/Loss Damage Insurance?
Auto rental collision/loss damage insurance is typically offered by the rental car company. You can usually add it to your rental agreement when you reserve the car. Alternatively, you may be able to purchase it from a third-party provider. It is important to read the policy carefully and make sure you understand the coverage and any exclusions. It is also important to ask about any additional fees or surcharges that may be associated with the policy.
Bottom Line
Auto rental collision/loss damage insurance can help protect you financially if you are in an accident or the rental car is stolen. It is a good idea to consider this type of insurance, especially if you are renting a car for an extended period of time or travelling in an area with a high rate of car theft or vandalism. You can usually purchase the insurance from the rental car company or a third-party provider. Be sure to read the policy carefully and understand the coverage and any exclusions before you purchase it.
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