Wednesday, March 30, 2016

When do you need to buy car rental insurance?

With summer drawing to a close, and Labor Day weekend right aroundthe corner, you may be trying to squeeze in that last minute road trip.Well if you're renting a car, listen up.There are some surprising circumstances.Rental car insurance and your credit card do not cover.Joining me now is Brian Karimzad of MileCards.com to talk about it.So Brian thank you so much for joining us.I think the first question everyone has when they get to the rental carcounter, is do I need to buy their insurance or not.You know, there's two kinds of insurance you really,really want to pay attention to.The first is called collision, that protects the car,the second is called liability, that protects you from getting sued.So when it comes to collision,you really only need it if you don't have your own auto insurance policy,you don't have a credit card with some coverage on it,you're trying to rent some fancy luxury car or a big SUV or truck.For liability.


If you have a car insurance policy of your own, andyou're renting here in the United States, don't worry about it.You're covered.If not, every state butNew Hampshire has a minimum level of liability coverage.It's not a lot, though, soif you get into a serious accident, you probably want some coverage.So, in that case, buy it from the rental car company,about twelve bucks a day.Or, you can actually go to an auto insurance company if you rent a lot.About two or three hundred bucks, you can get a non-owner policy.Brian, I know that liability insurance is not covered bythe credit cards, ever.And it can also vary whether you're covered depending on the type ofcar that you rent.Can you give us some of the particulars on that?That's right.Not every car is covered by every credit card.So if you're renting a luxury car you get upgraded to Mercedes or BMW, any car that's worth over $50000 most cards will not cover that.Mm. 


The other big catch you show up in Denver for a ski weekend,you get upgraded to a Chevy Tahoe that's called a full sized SUV,most cards will not cover that.Other thing to beware about.Flat tires. Yes. Happens to all of us, right?Absolutely. Probably the biggest risk fordriving around in a rental car, right?You said they've gotten sneaky.

They're sneaky about it.They don't specifically cover it for you.So, your credit card will cover it,your own auto insurance, there's a deductible, so that really doesn't help.You may end up having to pay, you know, $100 ortwo for that flat tire if it happened.Some of those rental car companies will try tooffer you road side assistance, it's like three five bucks a day.You probably gamble on it,your credit usually has some road side assistance included.You still have to pay for the tire but at least you won't have to pay forthe guy to come change it for you.And what about when you travel internationally?There's only four countries where you absolutely have to pay forthe insurance from the rental car company.It's Italy, Australia, New Zealand and Costa Rica.Everywhere else if your credit card doesn't specifically exclude a countryyou don't have pay for the collision coverage from the rental car company.You can actually decline it.That's actually really helpful information thanks Brian.

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