Rental Car Insurance Expert Opinion | WalletHub

By Candace Baker

WalletHub

Assistant Teaching Professor Anup Nair is featured as an expert on the WalletHub page dedicated to rental car insurance.

When does it make sense to buy insurance from a rental car company?

Although most of the times, your personal car insurance and / or credit card benefits might be enough to take care of rental insurance, but there are certain instances where you might want to explore buying insurance from the rental car company:

• If your personal policy only carries liability coverage (which covers damage you cause to others, but not to your own vehicle), then you’ll want to purchase the Loss Damage Waiver (LDW) or Collision Damage Waiver (CDW) from the rental company. This waiver protects you from financial responsibility for damage to or theft of the rental car.
• If you don’t have any personal auto insurance: If you don’t own a car and therefore don’t have personal auto insurance, you’ll need to purchase at least liability coverage from the rental company (as it’s legally required in most states). You should also consider the LDW/CDW.

While the above two are the primary reasons, there could be other personal scenarios as well like if your policy has a high deductible, or if you want to avoid any claims on your personal policy, you are traveling internationally and your credit card doesn’t cover that, etc. Always check your existing policies, if unsure, call/email their customer care to get the details. Do your own homework, before making any purchase decision.

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Source: Rental Car Insurance | WalletHub