How to Remove Excess Insurance on Rental Cars
It's happened to all of us. We approach the counter at the car rental company, only to face the same question from the agent: "Do you want to take out temporary rental car insurance?" In most cases, your answer should be an emphatic "no." It's easy to avoid paying for excess insurance on rental cars, according to Bill McGee for "USA Today." You just have to know what your existing auto insurance policy covers.
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Things You'll Need
- A copy of your current auto insurance policy
- Phone number of your auto insurance agent
- Contact numbers for your credit card issuers
Instructions
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Read your existing auto insurance policy before you step through the rental car company's doors. Call your insurance agent and ask if the same coverage your policy provides for your personal vehicles also applies to cars you rent. Usually it will.
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Call the issuers of your credit cards. Many credit cards automatically provide insurance coverage when you rent a car using your credit card. This coverage can vary from card to card. For instance, some cards exclude exotic cars or SUVs.
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Check your employer's corporate travel policy. If you're traveling on official company business, you are probably already covered under your company's insurance coverage.
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Refuse any offers of additional insurance from the rental company if you already know you have adequate coverage either through your employer, credit card issuer or existing auto insurance policy.
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Tips & Warnings
Consider whether your auto insurance policy coverage is good enough to protect you if your rental car is significantly damaged in an accident. If you have eliminated your insurance carrier's comprehensive damage coverage, McGee says, you are potentially exposing yourself to a big financial hit if you suffer a serious accident during your trip.
