What Is CDW Insurance?

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CDW insurance stands for collision damage waiver. Find out about CDW insurance with help from an experienced insurance professional in this free video clip.

Part of the Video Series: Insurance Questions
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Video Transcript

My name is Susan Combs, and today we're gonna talk about what is CDW insurance. CDW insurance, CDW stands for collision damage waiver. So what this always comes into play for is when you're renting a car. So you know when you go to the rental car counter and they always ask you oh do you want to take the insurance. So a lot of times if you've never had a vehicle accident on a rental car you might know all the stipulations of around this but typically when you take that insurance there's a very high associated with it. So even though you're thinking you're taking the insurance so that you're protected you could have to pay 5000 dollars out of pocket before anything's ever covered or a couple thousand dollars. So if you request them and usually it's a small fee but if you request to have the CDW insurance; so the waiver it will actually assign your personal auto policy over to the rental car. The one thing that you have make sure of first is you need to talk to your automobile carrier and make sure that you can have rental cars covered on your auto policy because if you can the rental cars covered on the policy it's gonna be much cheaper to just pay the small fee and have that insurance signed over to the rental car and then also if something were to happen you're your personal insurance is going to be a much lower deductible than it is for the rental car company.

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