How Much is Car Rental Insurance?
I'm looking to rent a car next month and will have it for one day only. I do not have insurance of my own so I will have to get some with the car that I rent.. about how much will it cost for the insurance? The car costs about $40 for the day.. Thanks!
If you're looking at purchasing optional insurance coverages from the car rental company, those prices can vary from company to company.
You will be offered Additional or Supplemental Liablility insurance. They call it additional or supplemental, because most car rental companies include basic public liability and property damage insurance in their rates. This covers any other people, property and vehicles up to the minimum limits required by state law. (It does not cover the rental car itself!) If you purchase the additional liability coverage it just raises the limits of coverage higher than state minimums. (you really don't need it, and it still does not cover the rental car)
You will also be offered a Collision or Loss Damage Waiver. This is not insurance, it is an optional purchase that covers you for any loss or damage to the rental car itself. This is a coverage that you may want to take. It is expensive and averages around $25-$30 per day extra. You can check to see if the credit card you will be using offers any coverage for a rental car, but make sure you read the terms and conditions, and understand any limits to that coverage.
I would go to the website of the car rental company you want to rent from and check prices on a car similar to the one you will be renting. You should see, as part of the reservation process, a list of optional protections and insurance; you would find the prices there.
Hope this helps and good luck!
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