Car rental insurance does not actually cover your car from damage caused by natural occurrences such as vandalism, burglary, or accidents caused by weather and road conditions. Even if you purchase comprehensive coverage on your car at the time of purchase, this is what you receive when you purchase collision coverage with it. Most collision insurance policies also provide additional coverage for other types of vehicles such as rental vehicles, but only provide limited protection to rental vehicles. Car rental companies often provide this type of coverage separately in order to protect themselves against claims filed by the passengers or owners of the car that they are renting. But most car rental companies do not offer any protection for the insured car.
The coverage that is offered to you by insurance companies may seem very limited, but it should not stop you from purchasing this insurance. If you do not have collision insurance or other forms of coverage you can still protect your investment and the value of your car. If your car is stolen while you are at work or at home and you have no way of returning it to the office without incurring a large fine, you should consider purchasing rental car insurance. A good policy will provide adequate protection to your rental car and the personal belongings contained therein.
The amount of coverage that is provided to you will depend on several factors, among them whether you are renting a car for business purposes or a vacation rental. If you are renting a vehicle for business purposes, the insurance company will look at whether the car is a fleet car or an off-lease. Fleet vehicles generally carry a higher risk because they are in more risky areas of the country where there are high rates of theft. Many off-lease vehicles are rented to travelers who are not in business areas at all.
Another factor that the insurance company will take into consideration is the type of company you own. Certain companies that rent out cars are typically classified as specialty companies that offer specialized services, such as auto repair companies, tow companies, and car rental agencies. These types of companies are typically more financially stable than others and therefore are able to pay more for their coverage.
The type of car you are renting and the location of the car rental should also be taken into consideration when deciding upon the right type of coverage. If you are driving a luxury sports car that is expensive or has a lot of amenities on board, the insurance should provide you with adequate coverage in the event of an accident. In this case, you would not need collision coverage. If you are renting a basic car, such as a used vehicle, it is usually cheaper to purchase a general liability policy.
Collision coverage is usually provided in conjunction with a rental car. General liability is not necessary unless you are traveling overseas. It is often the most affordable option as it provides minimum coverage for damage to other cars or to your rental car. In this instance, you will probably only need collision and/or roadside assistance coverage. This is the least expensive type of car rental insurance to purchase and will give you complete coverage and peace of mind while traveling overseas.
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