Question

Do we need to buy coverage from the rental car company or will our insurance policy cover us?

My wife and I are flying from Florida to New Mexico for vacation and will be renting a car. We have full coverage already on our current policy.

Jun 21, 2016 Tampa, FL

Answer
Neil Richardson

Jun 21, 2016

It is more than likely that your insurance policy will extend to a vehicle that you rent based on the coverage you currently carry. However, you should check the fine print on your policy or call your company to be absolutely sure. Even if your policy covers rental vehicles you might consider getting coverage through the rental agency or through your credit card company. Why might that be? Because your auto policy likely won't cover the additional fees that you will be charged by the rental company if you wreck the vehicle. You can be charged for the rental company's loss of use of the vehicle since they can't rent it out while it's being repaired, the depreciation of the vehicle's value, and other administrative fees. Getting coverage through the rental agency or your credit card company will release you from being responsible for fees that your insurance carrier won't cover. You can save money upfront by leaving the coverage to your insurance carrier, but there is potential for a big hit to your wallet in the event of a crash. Best of luck to you and enjoy your vacation!


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