How can I save on car rental insurance? Must see before renting a car

How can I save on car rental insurance? Must see before renting a car

Friends who have car rental experience know that you will be asked if you want to add insurance whether you are making an online reservation or picking up your car. Not to be able to save a lot of money, but this risk is indeed quite large, after all, the price of repairing a car in the United States can often be hundreds of thousands.

Want insurance? Dozens of dollars a day is equivalent to the double car rental fee, and it seems that the credit card has car rental insurance that can be used? There are several types of car rental insurance, what are they all for? Which ones are necessary and which ones are not? What are the car rental insurance policies for credit cards? What are the pros and cons? Let’s summarize them today.

Step 1: Know your insurance policy

It is necessary to know your car insurance before renting a car, because your car insurance may be used to save a part of the insurance cost by renting a car. However, everyone’s car insurance policy and company are different, please consult your own car insurance company for details. Generally, personal car insurance is divided into :

– Liability coverage

It is used to pay for the loss of others in the accident, including other people’s medical expenses, car repair costs, and other property losses. This can be used in rental cars.

– Comprehensive coverage

It is mainly used to compensate for the cost of repairing the car caused by damage caused by natural factors. The specific amount of compensation varies and can be used in the rental car.

– Collision coverage

It is mainly used to pay for the cost of repairing the car due to traffic or other accidents. The specific amount of compensation varies and can be used in the rental car.

In addition to car insurance accidents, also pay attention to your Homeowners/renters insurance and Health insurance. Check to see if your Homeowners/renters insurance has off-premises coverage to ensure your financial security on the go, and your health insurance to cover unexpected medical expenses during your trip.

Step 2: Find out what kind of car rental insurance you have with your credit card

Car rental insurance that comes with credit cards is usually a Collision/Loss damage waiver (LDW/CDW). Among them, there are Primary and Secondary points. Primary, as the name suggests, can be used to pay first, while Secondary is used to pay for expenses that other auto insurance cannot cover. One option is to not buy any other insurance so that your secondary will become the primary, which is a feasible idea, but the process will be more troublesome. Therefore, if you plan to use a credit card for car rental insurance, it is highly recommended to use a credit card with primary car insurance.

– Chase Credit Card with Primary Auto Insurance:

  • Chase Sapphire Preferred ($95 annual fee, no annual fee for the first year)
  • Chase Sapphire Reserve ($450 annual fee)
  • United Explorer ($95 annual fee, no annual fee for the first year)
  • MileagePlus Club Cards ($450 annual fee)
  • Ritz-Carlton Visa Infinite Card ($450 annual fee)
  • Ink business (No annual fee for the regular version, $95 for the Preferred annual fee)

If you have the above credit card and want to use its primary car insurance attribute, just use this card to pay for the full cost of the car rental and reject the CDW/LDW of the car rental company.

– Rental car insurance provided by all Citibank personal cards is also secondary:

The commercial card has the attribute of primary car insurance, but the terms and conditions stipulate that it needs to be a commercial rental car, which may be a little troublesome to claim.

– American Express also has rental car insurance, which is secondary :

Fortunately, American Express has a premium rental car protection program that is a good choice. You need to pay a fee of $12.25-$24.95. This fee is not calculated daily but is the price of the entire rental period, which is much cheaper than that provided by the rental car company.

Moreover, the premium rental car protection program is also very powerful. In addition to the CDW/LDW of Primary, it still provides secondary medical expenses and secondary personal property coverage. this plan is all-inclusive except for the reliability. If you look at the price again, it is also affordable and conscience. I sigh that Amex’s father is really rich and kind.

Step 3: Learn about the types of insurance provided by the rental car company

After you have figured out your existing insurance and credit card attribute car insurance, let’s take a look at the insurance ideas provided by the car rental company, and it will be much clearer. The insurance provided to you by the rental car company includes nothing more than:

– Liability coverage

It is used to pay for the loss of others in the accident, including other people’s medical expenses, car repair costs, and other property losses.

As we mentioned before, if you have a car and have insurance, you have Liability in your daily car insurance. You can call your insurance company to see if you can apply this to your rental car. If you can, then you don’t need to be there. Buy it from a rental car company.

– Collision/Loss damage waiver (LDW/CDW)

To pay for damage/loss of the vehicle during the rental period.

What we have previously provided, in addition to your daily car insurance may be available, there are also credit card attribute car rental insurance benefits. If you have a credit card with Primary auto insurance, or you have enrolled in the premium rental car protection program of Dad Amex, you don’t have to buy it from the rental car company.

– Personal effects coverage

To cover your financial loss during the rental period. In addition to the off-premises coverage in Homeowners/ renters insurance, Dad Amex’s premium rental car protection program also has off-premises coverage. covered. You don’t have to buy it from a rental car company.

– Personal accident insurance

It is used to cover medical expenses for you and your passengers during the rental period, which is also included in general health insurance. Express Dad’s premium rental car protection program is also included covered. You don’t have to buy it from a rental car company.

From the above, everyone understands that the insurance provided by the car rental company can be refused, but one thing that must be recognized is that if you choose another car insurance policy, although it works, it will be very troublesome to walk through the process. Stop calling and presenting various documents, and it will take at least three or four months to complete the entire compensation process. But if you choose the plan of the car rental company, although it is a lot more expensive, in general, even if there is a small bump in the car change, the car rental company may not say anything, save money and worry. It is recommended that you weigh it in your mind before making a decision.

By aamritri

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