Travel Insurance Reviews

Reviews and comparisons of travel insurance companies and their insurance plans

Is Rental Car Insurance Worth Its Money?

Car rental insuranceNext time you approach the rental car counter and they ask you if you’d like rental insurance, don’t be so quick to say no. Sure it may save you a few dollars to decline the insurance, but if something happens to the car you will wish you had rental insurance coverage. Some people are discovering that rental insurance is worth the money.

The Lucky Ones

There are some people who don’t need to purchase rental car insurance. Why? Many people are already insured. Your existing auto insurance policy may cover your rentals too. Even some credit cards may offer a little coverage if your car is wrecked or stolen. Don’t waste money on a product you already have. Double-check your plan to see if rental cars are covered. However, there’s a catch for those already insured. Especially when dealing with credit card companies, act fast. You may have to file a claim in a certain amount of time.

For Everyone Else

Car insurance policyYour policy doesn’t cover rental cars, what happens next? Insurance might be something to consider. You may be a good driver, but not everyone on the road is. Paying a fee upfront can be better than dealing with hassle later. If someone else dings your rental car, or you see a mysterious scratch that wasn’t there before, it is up to you to pay. Rental agencies can be picky about their vehicles. It might be easier to buy insurance then argue over all the scratches and bumps that cars commonly acquire.

The Pros: Expect the Unexpected

Doesn’t it always seem to be that the one time you need something is the one time you don’t have it? Don’t let this be the case with rental insurance. If you travel and use rental cars frequently, it may be prudent to protect yourself. Obviously, we can’t plan for accidents. This is why it’s important to be covered at all times. If you are in a unknown city, using an unfamiliar car, you may be safest buying rental car insurance.

The Cons: Money Money Money

Rental car insuranceRental car companies have several different policies available that cover different areas where you may be at risk. Do you buy each policy? This can add up quickly if you are a frequent traveler. It can be easy to get discouraged with rental insurance. It can often be expensive and many times everything goes smoothly so it is seen as unnecessary.

Considering Your Odds

Rental insurance is a gamble. It is usually seen as an extra unlike medical coverage or homeowners insurance. It can seem so silly to buy insurance for a small trip. However, you can also curse yourself for not having it. Instead of gambling each time, consider your needs. Do you travel frequently, often get in accidents, or feel safer with insurance? Then you may need rental insurance. Ultimately, it depends on your comfort level. However, if it fits into your budget then rental insurance is always helpful to have just in case.

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