When It May Be A Good Idea To Opt For The Car Rental Insurance Offered

September 19, 2018

© Maksim Marchanka Dreamstime

When it comes to renting a car we're quick to dismiss the additional insurance offered as most car insurance plans cover liability and injury even on rentals.  However there has been a nice and mostly overlooked perk that many credit cards offer.  While the minimum liability insurance required in Florida is $10,000, many credit cards offer additional insurance upwards of $100,000 as a secondary plan.  That is a great peace of mind, especially if the car you are renting is significantly more expensive than the one you have at home or you have a high out-of-pocket deductible. However each credit card is different and have a slew of exclusions and provisions that can make your head spin.  Perhaps it is that confusion as to why we never use it and Discover has noticed.  Earlier this year, the credit card company stopped offering auto rental insurance and Citibank cut coverage from $100,000 to $50,000.  While your car insurance and the added benefit of the insurance from your credit card may be plenty protection, there are some insurance programs from the rental agency you should consider. Personal accident insurance covers the cost of any injuries to you or your passengers while you’re driving the car. While most people have medical insurance that would cover any injuries, it should be strongly considered if someone in your party has no medical insurance.  Considering it generally runs around $2 a day, it is not too much for that assurance.  Personal effects insurance reimburses you for the value of possessions in the car that get stolen or damaged. While you may already have this coverage with your homeowners’ or renters’ policy, the relatively small amount of $3 to $4 a day may be worth it instead of going through your renters or homeowners policies.

SOURCE: Consumer Reports

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