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Insurance Advisors' Newsletter
July 2016

Insurance and Car Rentals 

By Susan Cormier for Insurance Advisors

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IA Team

If renting a car is part of your summer vacation plans, there are some things you should know before you enter the rental company's doors.

Salespeople at rental companies will try to sell you a variety of insurance coverages, which can come at a hefty price. They will tell you their insurance will minimize your liability while driving their rental car.

What they won't tell you is that you may already be covered by your own automobile policy. In most cases, the coverage and deductibles you have on your personal auto policy would apply to a rental car, providing it's used for pleasure and not business. If you need to check your individual policy, please give Insurance Advisors a call at 720.210.9898.

In addition to your automobile insurance, some credit card companies and motor clubs provide members with free rental protection when their cards are used to pay for rentals.

As a side note, you also may be covered by your employer's insurance if you are traveling on business.

Back to the rental company sales representatives. They'll offer a Collision Damage Waiver (CDW) or a Loss Damage Waiver, which guarantee that the rental company will pay for damages to your rental car.

According to consumer information provided by the Federal Trade Commission, these waivers are not technically collision insurance. That means the rental company won’t pay for any injuries to you or damages to your personal property. (Your medical insurance might offer protection that CDW coverage lacks.)

If you don’t buy CDW coverage or aren’t covered by your personal auto insurance policy, you accept responsibility for any damages — and could be liable for the full value of the car. Some rental companies hold you liable only for a portion of the value.

If you purchase CDW, keep in mind that the company could still revoke your coverage if the rental is damaged if you drive in a negligent manner, drive out of the state or drive while intoxicated or impaired.

If you are planning a trip that involves renting a car, please feel free to give us a call at 720.210.9898 to make sure you are adequately protected.

The Hartford

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