INSURANCE PROTECTION
EDITION ONE: 2010
RENTAL CAR COVERAGE
As you have read, a private passenger auto,
pickup, or van is rented, coverage applies for
both personal and business use, anywhere in
the policy territory. Please keep in mind
that there is no coverage in vacation spots
such as Mexico, Europe, and the Bahamas.
Coverage is subject to the deductible and all
other policy conditions. A damaged rental
car is covered up to the actual cash value
(depreciated) of the rental car without regard
to what type vehicle you own and insure.
There is typically coverage for “loss of
rental use” imposed by the rental firm up to
$20 per day with that amount increasable by
endorsement. Coverage also typically applies
for other “administrative charges”
imposed by the rental firm. The total of loss
of use charges plus administrative charges is
subject to a maximum of $600 unless the
policy is endorsed to a higher limit.
Coverage provided by credit cards varies
from card to card and agents should refer
questions about coverage provided under the
card to the issuing bank. Coverage is generally
very limited and it is our strong suggestion
that you closely review your credit card
company’s ‘coverage’ before relying on it.
COLLISION DAMAGE WAIVER: Rental car
firms does not sell insurance but offer what
is called a ‘collision damage waiver’
(CDW). At a cost of $12.99 to $22.99 per
day, CDW is costly. As you consider
whether to purchase the CDW here are a few
items to keep in mind:
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