You have made a plan to rent a car and go on a trip. But you might get up with work, or a natural calamity might occur preventing you from taking the trip. You might also fall sick, leading to changes in the plans you make. Therefore, while booking the car or paying for the rental insurance, you should know about their cancellation policy. Go through the terms and conditions regarding refunds if you cancel the booking.
1. Get Insurance From A Standalone Provider
These are the things you should consider when planning to purchase insurance for your rented car. Keep the contact number of the insurance company handy in case you face any issues with the policy. You will not want to be stranded in an unknown place because your car started acting up. Keeping the emergency contact of the insurance company will ensure that you know who to call.
Sometimes the terms and conditions might seem a little confusing. If you are confused, you should ask the insurance provider and the car rental company to explain the cancellation policy. You should always settle for a car rental company as well as car rental insurance that does not charge any cancellation fee.
- Damage due to theft, collision, or vandalism
- Damage due to fire, flood, windstorm, or hail
- Damage due to uncontrollable causes
2. Carefully Check Everything Covered By The Insurance
Before paying for the car rental insurance, you should check if the company is valid. Some car rental insurance companies might be fraudulent. You need to be aware of the licenses of the insurance company before selecting one of their plans. It is pivotal to check if the insurance company is regulated.
Before finalizing a car insurance company, you need to figure out what the plan covers. You might think that you are getting a cheaper plan. But the plan might exclude a lot of important benefits. In that case, settling for cheaper car rental insurance will keep you at a loss. Some of the common things that can be excluded from car rental insurance include damages to the roof, tires, and wheels. Sometimes damage to the engine, mirrors, and windows is also not covered.
3. Check If The Insurance Policy Offers Roadside Assistance
Key coverage is often not involved in basic plans for car rental insurance. Therefore, if you lose your keys, the insurance plan will not cover it. You must check if the car rental insurance pays for medical expenses in case you meet with an accident. Damages to the car in the event of an accident should be covered by the plan. If your luggage or other things get stolen from the rental car, you might get some compensation for it.
When you rent a car, you get basic coverage for damages occurring to your car. But the standard plan does not cover a lot of things, and your protection is often compromised. Therefore, you should consider getting car rental insurance from a standalone provider. Find a reputed company for car rental insurance and browse through their plans. Sometimes a car rental company might ask you to get insurance costing more than .
4. Deposit Money Is Required
Visit the about us section of the company’s website and gather as much information as possible from them. It might happen that you end up paying for insurance, but the plan does not cover the car you are hiring. Therefore, you will have to ensure that the insurance you are buying is applicable for the type of car you are choosing. If you are planning to travel internationally, there are separate plans for it.
But a car insurance company will have better and cheaper plans to offer you more protection. When you seek the services of a reputable car insurance company, you will get your compensation without much delay. You can get rental car insurance coverage up to ,000. The plan will cover up the following:
5. Check If Cancellation Requires Any Charges
Another thing that you need to figure out is if the insurance will cover roadside assistance if you need any. A lot of insurance companies have a separate policy for covering roadside assistance. It can be in the form of an add-on insurance policy covering roadside assistance specifically. So, if you are renting your car for a week, you will have to pay the insurance charges for one whole week.
Are you planning to rent a car and go on a road trip? You need to rent the car from a reputable company. Before renting your car, you should check the condition of the car thoroughly. Do not end up wasting money on a damaged car. Apart from that, you will also have to think about car rental insurance, for which you can click here. But before getting car rental insurance, you need to know the following.
6. Determine If The Insurance Company Holds Proper License
You might have to make this deposit using a credit card. The money isn’t deducted in most cases. Instead, the money is held in your account and released after the car is returned. Therefore, you need to ensure that the limit on your credit card allows you to pay the deposit.
Apart from that, you will also have to pay separately for the roadside assistance add-on. But a car rental insurance provider can get you a comprehensive service at a much lower rate. It will cover everything for the car you rent, and the benefit is often more than the premium you have to pay. This will ensure that the cost of renting a car as well as car rental insurance does not create a huge hole in your pocket.
Final Thoughts
Most car rental insurance companies will require you to make a deposit while buying the insurance policy. The security deposit will be returned when you return the car you have rented. It is done to ensure that if the customers meet up with an accident, they still get the payment.