Car renters should devote time to pondering insurance

The US-based Insurance Information Institute is warning all those who plan on renting cars this summer not to wait until the last minute when deciding whether or not to purchase insurance with a vehicle rental. Many renters fall into the trap of thinking that they can decide about what type of insurance to buy-if any-in the eleventh hour, only to then end up either making a mistake, which results in a lack of coverage, or else purchasing an insurance plan that they do not even need. According to the Institute’s Jeanne Salvatore, a common mistake is for car renters to choose one of two extremes-they either purchase every insurance policy available, thus spending much more than necessary, or they do not buy anything at all, leaving them with absolutely no coverage and liable for all damage to the hired vehicle.

Salvatore points out that by simply phoning one’s credit card issuer, as well as personal automobile insurance provider well in advance of a rental, the client will be able to determine in no uncertain terms whether or not any insurance is necessary. It is best to contact both the credit card company and the insurer directly, as it is often not entirely evident from reading a contract precisely what may or may not be insured.

Even if one does, in fact, enjoy coverage, purchasing a liability waiver-which all car rental companies either sell or offer as part of their package-may be a wise idea. It is, however, important to remember that these waivers become null and void if an accident is caused by speeding.