The answer is easy, yes you do. But who provides the insurance is where things get a little tricky. If you’re being held accountable for a rental car, then insurance is a necessity. But there are a variety of sources of rental car insurance and each source may provide varying amounts of insurance at varying costs. Let’s break it down, shall we?
Rental car add-on insurance.
Every rental car company provides insurance for an extra fee. In fact, this is a way they make extra profit. Consider this; they wouldn’t offer insurance if they lost money on it. But it is an option. If you’ve ever rented a car, you’ll know the process. They make you either select various types of insurance or even initial the contract that you have declined insurance. This insurance could add between $5 and $50 per day to your rental charges. If you don’t have insurance through another provider, this may be your only option.
Personal car insurance.
If you have insurance on your own vehicle, it may protect your rental car as well. You need to call and ask your provider if it does and for how much. They may recommend that you buy additional insurance from the rental car company to supplement your current insurance, or you may have plenty of coverage. If you do, you can deny the optional insurance and won’t have to pay any extra.
Credit card insurance.
Some credit card companies offer minimal (or secondary) insurance to their cardholders. Call your credit card provider and find out if you are covered and for how much. Again, you may need to supplement insurance with the rental car company.
In the end, it’s important to protect your personal assets. In this case, you want to protect your finances from the rental car damage sustained during your use of the car.
To learn more about rental car coverage, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.
