Before going on your vacation or trip, check with your car insurance company to see what their policy is concerning rental cars. Also, if you are using a rental car for business, find out insurance coverage details before you travel. Collision coverage as part of your existing policy will cover damage to any vehicle you drive.
Comprehensive coverage covers vandalism, fire, theft, or hitting an animal. Liability insurance will cover damage to another car if you caused the wreck, as well as medical treatment expenses due to your negligence.
Major credit cards like American Express, MasterCard, Discover and Visa offer rental car insurance when you put the rental charges onto your credit card. If you select this convenient option, research the details of the policy and get those details in writing. Some credit card insurance policies cover only damage to the vehicle and do not provide liability coverage for injury or death. This is very important to find out.
The rental car agency will typically offer loss damage waivers and collision damages waivers. They replace your own collision and comprehensive insurance. This will supplement your own policy coverage or make your coverage secondary to the newly purchased coverage. If you purchase these, you will be covered if the rental car is vandalized, stolen or damaged in a wreck. Your insurance companies will sort that out.
Be sure to contact the rental car company to let an agent know you were involved in an accident. They can give you any instructions regarding your rental vehicle. Instead, you might be covered, at least partially, in a few different ways. The auto insurance covering your own vehicle will cover some aspects of the rental car accident.
Check your policy to see what your insurer will cover, or call your agent for an explanation. Full name and contact details of who the vehicle is rented to if different to the driver.
Insurance details, this can include the rental car insurance, travel insurance, etc. The name and details of the car rental company.
Take notes about what has happened so you can refer to it later if needed, this includes what the weather was like, how the accident occurred, etc. Take the name and details of any witnesses. For the other states, you generally will need to make a police report within 24 hours if: A person was killed or injured A driver did not stop and give their details to the other driver s A vehicle was towed away after the accident The owner of any damaged property is not present Contact your insurer.
In most cases, your insurer will handle everything from this point onwards regarding vehicle damage. I crashed my rental car As already mentioned most rental cars will have basic insurance to cover damage to the car and they will all have CTP insurance to cover for any injuries. Most rental companies charge a high excess no matter who is at fault. You may be able to pay a fee to reduce the excess.
In some instances, travel insurance or credit card insurance if you used the card to hire the car may cover the excess. Collision Damage Waiver. Also known as a damage waiver or loss damage waiver, with a collision damage waiver, the rental car company will waive any vehicle replacement or repair costs if the vehicle suffers damage, or if there is a theft of the vehicle during the course of the rental.
Exceptions usually include damage that is the result of reckless driving, and damage incurred while the vehicle is being operated by an unauthorized driver. The collision damage waiver is not technically insurance, and it is always optional at an extra cost, of course. If your personal car insurance policy has comprehensive and collision coverage, your car insurance policy will probably pay for any damage or loss to the rental vehicle. However, you'll need to contact your insurance company to confirm this.
Even if you do have coverage, you'll probably have to pay a deductible and risk increasing your personal car insurance premiums when you file a claim. Liability Coverage. Liability coverage pays for property damage and medical expenses incurred by other individuals in a car accident you cause while driving the rental vehicle.
This liability coverage offered by the car rental company will usually overlap with your personal car insurance coverage assuming you own or drive a vehicle. But keep in mind that if you have only state minimum liability insurance coverage, it may not be enough to fully protect you if you're involved in a car accident. Additionally, in certain situations, such as an extended rental period, your own car insurance policy may not provide the necessary coverage.
Personal Accident Insurance. This insurance will pay for any injuries to the rental car driver, or any of the driver's passengers, in an accident involving the rental vehicle.
It may also pay for ambulance expenses, and even death benefits. If you have medical insurance or "personal injury protection" coverage with your personal car insurance policy, personal accident insurance will probably provide overlapping coverage. But again, you'll need to confirm this with your own insurance company and be aware of any additional costs or expenses, such as co-pays and deductibles.
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