RENTING A CAR?
the rental car company. Rental agencies usually offer different types of coverage: Loss Damage Waiver (LDW): While this is not technically insurance, it’s a waiver that doesn’t hold you responsible for any damage to the rental car. Collision Damage Waiver (CDW): A CDW relieves you of financial responsibility for damage to the rental car caused by accidents, fire, severe weather, vandalism, and other risks outlined in your rental agreement. Personal Accident Protection: This coverage assists you and your passengers in paying for medical expenses after an accident. Supplemental Liability Protection: If you don’t carry liability insurance, this coverage pays for bodily injury or property damage you may cause to others while driving the rental car. Personal Effects Coverage: This optional coverage reimburses you for damage or theft to personal belongings inside the rental car. While you’re not legally required to purchase additional coverage for a rental, it can protect you from expensive out-of- pocket costs from an accident. Ultimately, whether you need rental car insurance depends on the coverage you already have and your comfort level while driving.
Here’s How to Decide if You Need Extra Insurance
When you’re preparing to rent a car in Massachusetts (or anywhere), you may wonder if you need car insurance. It depends on several factors, including the type of coverage you already have, the rental company’s policies, and your personal preferences. If you already carry car insurance on your personal vehicle, you may not need to purchase additional coverage. Many personal auto insurance policies cover rental vehicles, so if your policy includes collision, liability, and comprehensive coverage, it likely covers a rental car, too. However, checking with your insurance provider to confirm that your policy extends to rental cars is always important. Next, did you know that if you pay for the rental with your credit card, you may already have some coverage through your card? Many credit card companies offer rental car insurance as a perk for cardholders, typically providing secondary coverage, which kicks in after your primary insurance. This coverage often includes damage to the rental vehicle, but it may not include liability insurance for injuries or damage to others, so it’s important to review the terms of your credit card agreement. WHEN TO CONSIDER RENTAL CAR INSURANCE If you don’t have a personal auto insurance policy or your credit card doesn’t offer adequate coverage, you may want to consider purchasing insurance directly from
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