Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
Talk to your insurance professional about the coverage you already have in your auto insurance policy. In most cases, the coverage you have extends over to any car you may be driving temporarily and if that is the case, save your money on the rental agreement. Be sure they your policy included both Comprehensive and. Collision though. One other thing to consider is your credit card. Many include coverage for a rental up to $500 which may be enough to cover your deductible in your policy, saving you money there too.
While it may be true your own liability, comprehensive and collision coverage may extend to cover you when renting a car, most of the rental agreements I have read make the renter responsible for expenses not covered by most auto insurance policies.
In addition to the responsibility for the deductible, most rental companies make you reimburse them for the loss of value to their damaged car, the revenue they lose while the car is out of service and even the administrative costs they incur having the car repaired. These costs are not covered by most auto insurance policies.
Remember you gave them your credit card and permission to put those charges right on your card. That might make your trip one you will remember! And the damage to the rental car might not even be your fault!
Unless you have a good personal umbrella policy without a following form auto limitation and/or personal property care custody or control exclusion, I suggest you consider buying the damage waiver rental companies offer. The price is ridiculously high but it avoids an argument with a big company who would have your money and doesn’t like to give it back.
If more people would read the rental agreement and object to accepting responsibility for these costs, maybe the rental companies would remove these indemnity clauses for many of their good repeat rental customers. Until then it may be a matter of “ Pay me now or Pay me later”.
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In addition to the responsibility for the deductible, most rental companies make you reimburse them for the loss of value to their damaged car, the revenue they lose while the car is out of service and even the administrative costs they incur having the car repaired. These costs are not covered by most auto insurance policies.
Remember you gave them your credit card and permission to put those charges right on your card. That might make your trip one you will remember! And the damage to the rental car might not even be your fault!
Unless you have a good personal umbrella policy without a following form auto limitation and/or personal property care custody or control exclusion, I suggest you consider buying the damage waiver rental companies offer. The price is ridiculously high but it avoids an argument with a big company who would have your money and doesn’t like to give it back.
If more people would read the rental agreement and object to accepting responsibility for these costs, maybe the rental companies would remove these indemnity clauses for many of their good repeat rental customers. Until then it may be a matter of “ Pay me now or Pay me later”.