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Car Rental Insurance AdviceCar Rental Insurance AdviceBefore you decide to reject Loss Damage insurance coverage offered by a car rental company, make sure you know whether your own automobile insurance company fully covers damage to or loss of the rental car; the limits of their coverage and your deductible. If you decline the insurance offered through the car rental agency and are in an accident you may, under certain circumstances, be liable for the fair market value (less salvage value) of the car if it is totaled. You could also be liable to pay for the lost revenue of the car rental agency during the time the damaged rental is being repaired. Your own insurance company could have exclusions for the loss of their rental income while the vehicle is being repaired. Collision Damage Waiver (CDW) for Auto Rentals on Your Credit Card Rental car insurance decisions. However, there is a bright side for this potential problem. Many credit card companies offer auto rental collision damage waivers (CDW) if you rent a car with their credit card. This benefit provides you reimbursement for damages to collision or theft up to the actual cash value of most rental vehicles. Of course, it only comes into play if you had no automobile coverage for your own vehicle or there is an exclusion in your policy. This oftentimes is a great benefit because many credit cards also pay for “loss-of-use” charges imposed by the rental car company while the vehicle is being repaired. These credit cards also can possibly cover the cost of replacement rental vehicle, the theft of your rental vehicle and towing charges. So, pull out your credit card benefits guide or contact your credit card company to find out what benefits are offered. It may very well be worth. Peter J. Hart The article is for informational purposes only and not for the purpose of providing legal advice. You should contact an attorney to obtain advice with respect to any particular issue or problem. |
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Karp and Hart is a law firm that limits its practice to personal injury and medical malpractice cases. We serve our clients in Philadelphia area locations including West Chester, King of Prussia, Honey Brook, Coatesville, Thorndale, Downingtown, Lionville, Exton, Frazer, Malvern, Paoli, Phoenixville, Devon, Berwyn, West Goshen, Chadds Ford, Kennett Square, Avondale, West Grove, Oxford, Parkesburg, Chester Springs, Coventry and the Main Line. We take most injury and malpractice cases and have worked to serve victims of car accidents, medical malpractice, surgical errors, motorcycle accidents, and more.
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