So you ve flown out of town on a family vacation, you ve arrived at the airport and you re in the pr

So you ve flown out of town on a family vacation, you ve arrived manhattan apartment short term rentals at the airport and you re in the process of picking up your rental car. As you re signing the paperwork, the rental car representative asks, Did you want to purchase the auto insurance coverage? You have already checked with your auto insurance agent in anticipation of this question. Your agent had indicated that since you are currently carrying the Comprehensive and Collision coverage on the owned vehicle listed on your policy, manhattan apartment short term rentals and since this was a temporary substitute for that vehicle, then your current auto insurance policy with that particular company would extend the Liability coverage and the Comprehensive and Collision coverage to the rental car. Therefore, one can conclude that if anything happens to the rental car while you are renting it then you have nothing manhattan apartment short term rentals to worry about, correct? Not necessarily. Let s take a look at some of the gaps in coverage that the typical Auto Insurance policy could present and how the rental car coverage would possibly provide protection.
There are two options that have to be considered when weighing the choice of purchasing rental car coverage through the rental car company: liability and physical damage. The first consideration, liability coverage, protects the driver for bodily injury and property damage to third-party property that the driver may be liable for if he/she causes an accident. manhattan apartment short term rentals The rental car company will usually offer the option manhattan apartment short term rentals to purchase the liability coverage through them. Keep in mind, typically this coverage is in excess of the liability coverage on your private auto insurance policy. As a general rule, the rental car liability coverage will provide the same protection as the private auto insurance policy: it is simply excess coverage. Therefore, the only real incentive behind purchasing this additional coverage manhattan apartment short term rentals through the rental car company would be if you were concerned about being involved in an accident that could potentially be severe enough to exceed the limits that you currently carry on your personal auto insurance policy. Chances manhattan apartment short term rentals of this may be slightly greater since you would be operating an unfamiliar vehicle in, most likely, unfamiliar territory. However, if there were concern that your current limits on your private auto insurance policy may not be adequate, then your consumer dollars might be better spent by bumping up the limits on your current policy and having that additional protection all-year around.
The second option that should be considered pertains to the physical damage to the rental car itself. Here is where there may be discrepancies between your personal auto insurance policy and the rental company coverage. The personal auto insurance policy would provide coverage if the rental car were to become damaged, but what about the down time? An extensively manhattan apartment short term rentals damaged car could equate to significant income manhattan apartment short term rentals loss for the rental car company due to not being able to rent out that vehicle. A rental car company would have the right to go back to the renter for compensation. The personal auto insurance manhattan apartment short term rentals policy would not provide coverage for this. By purchasing coverage through the rental car company, this protection should be included.
If the car is extensively damaged, it may need a reconstructed title. In circumstances such as these, the vehicle ends up losing manhattan apartment short term rentals value. This is another example of a loss sustained by the rental car company that the renter could be held liable for. This diminution of value is not covered by the personal auto insurance policy, but, again, should not be an issue if coverage is purchased through the rental company.
For circumstances regarding damage that is covered by the personal manhattan apartment short term rentals auto insurance policy, do keep in mind that your deductible would be applicable. Therefore you would be responsible for paying the portion out of pocket, on the spot. Even if there is a likelihood that the damage is below your deductible limit, the rental company may insist manhattan apartment short term rentals on being reimbursed for the full deductible to cover unforeseen costs. You may also run the risk of not receiving a refund if the damage is ultimately below the deductible amount that you paid.
Also keep in mind that physical damage claims that may occur to the rental, which are paid for by the personal auto insurance policy, will be reflected on your driving record with your auto carrier. If you purchase the rental car protection and cause a physical damage loss to the rental, this payout will not be held against you. This could be considered a get-out-of-jail-free card.
An additional cost that the rental car renter could encounter is being held up. If the renter damages a rental car and does not purchase the rental coverage, the rental company could refuse the renter another car until the auto insurance company is reached and confirms that they will pay the claim. This is not the way most people would prefer to spend their family vacation. In other words, sometimes it is advisable to purchase the coverage and consider it vacation insurance . Leave the worries manhattan apartment short term rentals and unforeseen catastrophes to the rental car company so you your family can focus on enjoying that getaway that you worked so hard to earn.
In summary, although the personal auto insurance is designed to protect an insured and their family from unforeseen losses when operating an owned or borrowed manhattan apartment short term rentals vehicle, there are additional responsibilities and liabilities incurred when entering into an agreement for a rental car. Therefore serious considerations should be made when rental car coverage is offered. As with any contract, you will also want to take a look at the terms and conditions manhattan apartment short term rentals of the rental company insurance and understand the stipulations and limitations of their coverage.
Robert Lafaro said... Good question. Yes, coverage can be found under certain credit card programs, but caution must be taken to read the fine print. Exclusions can exist, such as "No coverage if vehicle is operated on an unpaved road." This could be a big risk when traveling through manhattan apartment short term rentals rural states. Also, the coverage provided by the credit card is an "added feature". It is not being provided by the same company who is renting out the car, and it is not being provided by a company in the business manhattan apartment short term rentals of selling manhattan apartment short term rentals auto coverage. In other words, read the contract before relying on that form of protection! FRIDAY, SEPTEMBER 21 2012 8:51 PM