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Figuring out how to insure your rental car can be confusing. Should you accept the expensive policy of the rental company? Will renting with your credit card protect you in an accident? Here's what you need to know when considering how to insure yourself:
- Most private auto insurance policies include collision coverage for rentals in the U.S. and Canada. But some will only cover rentals you use when your everyday car is being repaired, so check your policy carefully.
- Credit cards are another good source of collision coverage, and may also cover you if your rental is stolen. Unfortunately, your card won't necessarily keep you safe if you're renting an expensive vehicle or are in certain locations abroad.
- Travel insurance is an option for those who don't have their own car insurance or credit card to provide coverage. In most situations, you will have to pay an extra fee to cover a rented vehicle, in addition to what you're paying to cover yourself.
- Car rental companies will often try to sell you their own coverage, at very high prices. Purchase their coverage only if you won't be insured otherwise.
- Our best advice is to make sure you'll be covered—either by your regular auto insurance or your credit card—before you leave home. Compare the different options and choose the one that will keep you safe, at the lowest possible cost. For additional peace of mind, be sure to check the car thoroughly before you even leave the lot.
