Advertiser Disclosure
X

Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.

By

Views

1.1K

Dig Deeper

25,339FansLike
25,129FollowersFollow
42,984FollowersFollow

Become a Money Crasher!
Join our community.

To Buy or Not To Buy Rental Car Insurance

Views

1.1K

You all know the awkardness of renting a car, and the sales rep will ask you if you want to buy rental car insurance. Their most popular pitch is that the worst could happen and you are stuck with buying them a new car. You try to remember if your auto insurance policy covers you for collision and/or liability in rental cars, but you can’t remember. Hell, you’ve never even read your auto insurance policy, let alone knowing whether it covers you for rental cars. Also, it’s not like they offer this coverage for an extra $5.00 per day. It’s about $25 to $30 a day, which can really increase your total rental bill.

Check out this article from USA Today about when you should and should not buy rental car insurance.

Personally, I never buy it. I think it’s a major rip-off, and it’s definitely a fact that these rental companies make major profits off selling the policy. That is why their sales people are so crazy about trying to sell you the policy. They’ll guilt or scare you into it, before you finally just break down and buy it. The fact is that most policies will cover you for rental cars. But, you need to do your research and make sure you know all of the conditions and exclusions in your policy. Some policies might exclude coverage in a foreign country, or it might only pay up to a certain amount for rental cars. If you don’t carry collision insurance on your own car, you might not be covered for property damage to rental cars. If your policy doesn’t cover rental cars, then you can usually add it onto your policy for literally $10 to $20 every six months. This is still a much better deal than buying the insurance from the rental car company.

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college.

Next Up on
Money Crashers

Trailing Stop Loss Order Example

How to Place a Trailing Stop-Loss Order – Example, Pros & Cons

One of the most difficult decisions investors have to make is when to take profits and when to cut losses short. Some traders will...
Couple Holding Sports Tickets

13 Places to Buy Cheap Discount Sports Tickets Online & Off

More than 1 in 10 millennials have fallen victim to ticket counterfeiting, according to a study by anti-counterfeiting outfit Aventus. You probably know someone...

Latest on
Money Crashers

Sign Up For Our Newsletter

See why 218,388 people subscribe to our newsletter.

What Do You Want To Do
With Your Money?

Make
Money

Explore

Manage
Money

Explore

Save
Money

Explore

Borrow
Money

Explore

Protect
Money

Explore

Invest
Money

Explore