Rental Car Insurance – Can you live without it?

rental car insurance

Many of us are aware that our personal auto insurance policies cover things such as damage and injuries when renting a vehicle.  However, your personal policy does not cover you in all situations. There are some costs that your policy most likely WON’T cover if the rental car is damaged. You may want to consider rental car insurance.

EZ Air Park spoke with our insurance agent recently and he advises buying add-on coverage from your rental car company to protect you from costs associated with:

  1. Loss of use:  When the car is damaged and has to go to the shop for repairs, the rental car company loses revenue that could be made from renting the car to others. So, that Mustang convertible upgrade you scored could cost you up to $150 each day it is in the shop waiting for new parts and repairs.
  2. Diminution of value: The rental car company is left with damaged goods and will refer to the Kelley Blue Book value to see what their then “Excellent” Ford Mustang convertible is worth now that it is in “Good” condition and charge you for the difference, around $2,000.

Hopefully, you’ll have no problems with your rental car, but added coverage could eliminate some of the stress of traveling and you won’t come home to a surprise on your credit card statement!