Should I Buy Rental Car Insurance?Written by Tim Register
Rental car agencies have a menu of insurance policies they would like to sell you. While each policy could be of some benefit under right circumstances, you should review each plan (its provisions, limitations, and exclusions) before making a purchase. It is a good idea to request detailed information from an agent at rental office, as most companies only provide a summary on their Web sites. Keep in mind; you may not need to buy this additional car insurance because you have auto insurance from your own car insurance company. Generally speaking, when you rent a car, liability coverage limits you have in your own auto insurance policy remain in effect with same limits. In addition, comprehensive and collision coverages you have in your own auto insurance policy remain in effect with same deductibles. You do have comprehensive and collision coverage don't you? See our article, "How Much Car Insurance Should You Buy?" for a listing of coverage types and definitions. You may also have some kind of additional auto insurance coverage through your credit card but it is important that you check your credit card information for specific details. Some cards only offer coverage if you rent your car from a particular agency. Some limit days for which coverage is available. Some will only provide coverage for certain types and/or classes of cars. With some cards, coverage is not automatic and you must enroll in a program to get coverage. Some cards that advertise automatic rental insurance really only reimburse you for deductible that you would have to pay under your regular insurance policy. Still others may provide only collision and comprehensive coverage, leaving you exposed for personal injury or property damage to others. Rental car agencies typically offer liability coverage in two parts - a supplemental liability policy protects against claims from others and a Loss Damage Waiver (LDW) covers rental car. LDW is not technically insurance; rather, it is a company's agreement not to hold consumer liable for loss from all or part of any damage to merchandise.
| | Types of Auto Insurance Coverage ExplainedWritten by Belinda Ramos
A question you might ask yourself is: why must we carry auto insurance? Hopefully one answer you should hear is to protect yourself and your car. For those same reasons government also requires you to have car insurance. The state of Florida requires you to carry at least minimum requirements, which is property damage at ten thousand dollars and personal injury protection at ten thousand dollars. Property damage covers another person's vehicle if you are at fault in an accident. Personal injury protection covers 80 percent of medical expenses and 60 percent of loss wages as well as up to a five thousand dollar death benefit for you and your relatives (that reside with you), minus deductible if it applies. This coverage would protect you in case there is any damage to other vehicles and gives you medical coverage for yourself. There are many different types of auto insurance coverage to choose from, depending on what you want covered and what you can afford. Where should you get started? First you should ask yourself if you have enough coverage in case of an incident occurring. Besides minimum requirement coverage previously mentioned, there is another type of coverage that is very important, bodily injury. Bodily injury coverage is not required by state of Florida until you get into an auto accident. This would cover you if you were at fault in an accident and person in other vehicle suffered injuries exceeding their personal injury coverage. If you did not have this coverage other party has right to sue and state may place a financial responsibility on your motor vehicle report, which you would have to carry for 3 years. That financial responsibility is called an SR22.
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