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When renting a vehicle do I need to buy Insurance?
When renting a vehicle do I need to buy Insurance? I don’t have my own Auto Insurance since I don’t currently own a car. However my mastercard issued through my bank covers rental vehicles when I use it. So do I still need to purchase more additional Insurance to be sure Im fully covered. I have never had an accident in my life but there is always the 1st time. Thanks for all honest answers
As an Insurance agent, I always recommend purchasing the Collision Damage Waiver (I don’t want to go in the reasons why at this time because it’s not pertinent).
Normally credit card companies only cover damage to the rented vehicle and not to a third party you may hit. Normally it’s not a problem with most renters because a Personal Auto Policy covers liability for rental cars (but not always). However, you don’t have a personal auto policy, so your only source of protection is Liability Insurance the rental car companies overcharge for or the credit card.
I would call your credit card company to verify 3rd party liability Insurance. If they can’t put it to you in writing, buy the supplemental liability Insurance from the rental car company. It’s probably on $10/day and it’s got decent limits.
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