Do I need to buy rental car insurance?

Do I need to buy rental car insurance?
With spring traveling approaching, many of us will be standing in line waiting to rent a car so we can start our vacation, make a meeting, or see a family member.
While we are filling out the paperwork for the rental, we are presented with the question, “Would you like to purchase insurance for this vehicle?” With a little forethought, we can be prepared with our answer. Of course, please contact us at jan jesberger insurance if you have any questions at all.
Below are some variables to help with your decision.
1.) Coverage on your own vehicles.
Call us if you are not sure of your coverage. In most cases, the coverage, as well as the deductibles you carry on your vehicles, will apply to the rental, as long as the rental is for personal use and not a business. However, if you do not carry comprehensive or collision insurance coverage, you will not be covered if your rental is stolen or damaged. So you will need to buy the physical damage insurance from the car rental company.
2.) Call your credit card company. Some credit card companies provide a level of insurance. You need to contact them to find out what is covered. Get specifics from these companies.
3.) Collision or Loss Damage Waiver option.
This coverage relieves you of your financial responsibility if your rental car is damaged or stolen. Be careful if you are renting that Camaro in Hawaii though, an accident may not be covered by the rental insurance if you are speeding. The cost of this insurance is usually between $9 and $19 per day from the rental agency.
4.) Liability insurance. This provides excess liability coverage of up to a million dollars for the time you rent the car. Rental companies are required by law to provide minimum limits of liability insurance, but this generally does not provide enough coverage.
5.) Personal Effects Coverage. This provides coverage for the theft of personal items out of your car. If you have homeowners or renters insurance you may be covered for the loss minus your homeowner’s policy deductible. Keep receipts and make sure you have a police report. Our own rental car was broken into right after arriving in Los Angeles when attending a wedding several years ago. Safeco reimbursed us (coverage from our homeowner’s policy) for all of our suitcases and the contents, which added up very quickly.
As always if you have any questions, please contact us at 208-762-2122 pr jan@janjinsurance.com