Let’s look at the various types of car insurance available, then go over each to see if you are covered.
- Supplemental Liability Insurance (SLI): covers bodily injury or property damage to someone other than the renter and passengers.
- Personal Effects Coverage (PEC) covers loss or damage to personal belongings of the renter.
- Personal Accident Insurance (PAI) covers accidental death and medical costs.
- Collision damage waiver (CDW) covers you event of a collision.
- Loss damage waiver (LDW) – covers any loss to the rental company.
SLI- So if you have bodily insurance in your own personal auto insurance, I feel, you’re covered.
PEC – If you have Home owners insurance, I feel, you’re covered.
PAI: If you have health insurance coverage or have personal injury protection from work or in your own auto insurance coverage, I feel, you’re covered.
CDW- If you have comprehension/collision insurance in your personal auto insurance yes you’re covered, but think about your deductible, are you ready to pay for that? Also if you buy the insurance from rental Car Company instead of filing claims, you can call the rental company and they will pick up the old rental vehicle and bring you another vehicle. Keep in mind that some personal auto insurance only covers drivers in your policy, so if you’re going to share the driving with someone else, you may not be covered.
LDW: If you’re in an accident, the rental company can go after you for dimension of value, the amount the vehicle value decreased now that it’s been damaged. Also they can come after you for loss of use, the loss of income they endured when the vehicle was out for repairs. If you have any insurance in an event, you’re being sued, then you’re covered – but if not, you’re not covered.
In most cases LDW is the best insurance to get at the rental company. So prior to renting a car make two phone calls: one to your insurance agent and the other to your credit card company. Yes, your credit card company. What most people fail to know is that most credit card companies have some kind of insurance coverage when renting a car with their card. So be informed and don’t duplicate insurance but the best way to be covered is to drive safe. So be safe, and God Bless.
