Friday, June 14, 2019

The Complete Guide To Purchasing Rental Car Insurance

Wazzup Pilipinas!

Car rental agency is also known as car hire or hire car agency. They are agencies that allow individuals or corporate bodies to rent automobiles for a short while, usually a few hours, days or even weeks. Basically, they render assistance to people that do not have a vehicle, or for whatever reason have a need for a car to carry out an assignment. 

Car insurance, on the other hand, is a platform that offers financial protection on the event bodily injuries or physical damages caused by a traffic accident, alongside other financial responsibilities that may result from such collision. Sponsored post.

In a case where you do not have your own personal auto insurance policy, you may need to opt or apply for rental car insurance. When dealing with a car rental insurance process there is a need for you to carry out proper research to avoid car hire excess insurance. Rental insurance claim covers events like:

Bodily injury
Smoke damage
Fire and lighting
Damage caused by electrical appliances
Weight from falling objects
Damage caused by other vehicles
Wild windstorm damage etc.

A number of insurance policies have a reasonable level of liability coverage; therefore you tend to get a level of refunds in an event of getting sued for damages on the vehicle or bodily injury. They also make payments for the benefactor on legal expenses as well as a court judgment, to the extent to which the insurance policy covers.

Events That Are Not Covered By Rental Insurance Policies

It is very vital that you know that your rental insurance policy may not cover you on a number of events. Some of such uncommon events are an earthquake, flooding, tornadoes, hurricane, and other natural disasters that are quite unavoidable.

Why Do You Need Rental Car Insurance?

Rental car insurance can be a little bit costly. However, not having it can be more costly. Here are some reasons why you may need rental car insurance:

Most states compulsorily require that you have a car insurance policy, whether rental or not.

If you, unfortunately, get involved in a car accident, it could totally distort all of your current financial standings.

The rental agency will also want you to have an insurance policy to cover some level of risk on contingency.

Major Coverage Area of a Car Rental Insurance Policy

There are usually four major types of insurance coverage available when a car is being rented:

Loss damage waiver (LDW): this is also popularly known as collision damage waiver (CDW), which covers the beneficiary from damages that occurs during the period of renting the car. If you are to use your own personal policy, it might not cover up to the full value of the vehicle you have rented. Therefore you may need a loss-damage waiver to remain secured. LDW/CDW covers you a whole lot if your rented car gets stolen, crushed or damaged.

Supplemental liability insurance (SLI): this aspect of the rental insurance policy covers damage on other vehicles, properties, and medical bills while driving a rental car. This can be evaded if your umbrella policy is intact and is not lesser than the rental coverage limit.

Personal accident insurance: PAI makes provision for coverage on medical expenses for you and everyone in the car when there is an accident.

Personal effects coverage (PEC): this is an internal provision that is made to cover items that are stolen or damaged from the rental car. Even when you have active auto insurance, it will not cover for items that are inside the car. Therefore you need an extra rental insurance policy to cover for such incidence.

Things to Consider Before Purchasing Car Rental Insurance
The process of purchasing rental car insurance to protect your rental car might be very tedious and confusing, so you do not what to make silly mistakes. Here are some things to check for while booking for your next exquisite road trip.

Be sure of everything that your rental car insurance covers you for, know the things that are excluded. The major things that are usually excluded from the rental car insurance are damage to wheels, engine, roof, tyre, mirrors, and windows.

Ensure to use a separate standard insurance agency to evade car hire excess insurance

Certify whether there is Roadside assistance in your policy.

Be ready for a credit card deposit.

Take the company’s contact in case of an emergency.

Check for the authenticity of the insurance company. You may also check for your non-working cars needs. 

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