An insured person does not have to have the insurance that a car rental company offers. In most cases, your personal auto insurance policy will extend to rental cars, as long as you are renting a private passenger vehicle. However, there are some exceptions, such as:
If you are renting a car for business purposes, your personal auto insurance policy may not cover you.
If you are renting a car in a foreign country, your personal auto insurance policy may not cover you.
If you have a liability-only policy, you may want to purchase additional coverage from the rental car company.
There is one main gap in coverage, Loss Of Use.
Loss of use coverage is a type of rental car insurance that reimburses the rental company for the income it loses while a rental car is being repaired after an accident. This coverage is typically not included in personal auto insurance policies, so it is important to be aware of this gap in coverage.
There are a couple ways to fill this gap in coverage:
Purchase loss of use coverage from the rental car company. This is the most common way to get loss of use coverage, but it can be expensive.
Use a credit card that offers rental car insurance coverage. Many credit cards offer rental car insurance coverage as a benefit to cardholders. However, it is important to check the terms and conditions of your credit card coverage to make sure that it meets your needs.
If you are involved in an accident while renting a car and you do not have loss of use coverage, you may be responsible for paying the rental company for the income it loses while the car is being repaired. This can be a significant expense, especially if the car is out of service for a long period of time.
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