What are my comprehensive and collision deductibles? The average policyholder has deductibles of $50

If you asked a panel of CPCU-certified insurance experts this question, central holiday tours you would likely be met with the age-old insurance answer of “it depends.” More of what is at consideration here is the rental company’s offer of a damage waiver (DW) or collision damage waiver (CDW). Damage waiver is not insurance per say, but more the rental company’s offer to waive its right to collect for damages to its rental vehicle while it is under your care. From an insurance expert’s standpoint, central holiday tours anytime central holiday tours a waiver is available, it could be considered central holiday tours more desirable than one’s personal insurance because a waiver is all encompassing, that is, it is free of exclusions or general policy restrictions. In addition, damage waivers typically come free of any deductible.
Rental car companies offer a wide variety central holiday tours of products and services; however, for purposes central holiday tours of this article, the only “insurance” we will concern ourselves with will be the damage waiver. Before central holiday tours you decide for yourself whether or not the rental car damage waiver is right for you, you should thoroughly consider the following:
In most states and with most insurance companies, the vast majority of insurance policies transfer over to a rental car. That being said, the auto policy and coverage central holiday tours you have is the exact coverage you will have for the rental car.
What are my comprehensive and collision deductibles? The average policyholder has deductibles of $500 for either coverage. Can you afford to incur that sort of financial burden in the event of a rental car loss?
If you choose to use your own insurance, you would be filing a claim with your insurance in the event of a loss. Being unfamiliar with your surroundings and the function of the rental car may increase the likelihood central holiday tours of an accident.
More drivers equates to more general risk of a loss to the rental car. More drivers also increases the difficulty of fully knowing the insurance coverage being afforded to the rental car. Also, most rental car damage waivers cover all permitted drivers for one daily fee.
Depending on the state you are in, you may hear your rental car agent use the term No-Fault state. The common misconception central holiday tours is that this concept applies to physical property damage. The truth, however, is that this terminology only applies to bodily injury or medical-related claims. Being in a No-Fault state is not a reason central holiday tours to purchase a rental company central holiday tours s damage waiver.
central holiday tours Does the state you are renting from allow the rental car company to collect for loss of use or diminution of value? If your personal auto insurance does not cover this and the state you are in allows a rental car company to collect for either of these, then the damage waiver becomes essential.
* While few insurance companies cover either of these type of losses, Pekin Insurance covers both with either its Auto Guard Endorsement (1608) or with its Comprehensive Increased Transportation central holiday tours Expense Endorsement (4022).
A good rental car agent will sell the damage waiver as nothing more than optional “peace of mind.” As we all know, our own auto insurance is there to protect us in the event of a loss. Although most of us will rent a car without any incidents at all, it is up to us to be educated on our own personal auto protection and the options from the rental company to make the best decision.