5 Things To Know About Insuring an Expensive Rental Car

5 Things To Know About Insuring an Expensive Rental Car

Rentals are a major convenience, and a luxury rental will give you a memorable experience. But there are numerous risks on the road, and you want to keep your rental safe until you return it. Insuring your rental car will give you the protection and care you need to drive with confidence, and it’s important to understand what kind of coverage you need.

The Types of Rental Insurance

There are several types of rental car insurance. In the event of a crash, the most common types of rental car insurance cover the damages you cause to property and any medical bills you accrue. It’s important to ensure you have the best insurance for your expensive rental to keep yourself financially safe in the event of an accident.

You Can Get Additional Rental Insurance at a Cost

It’s possible to get rental car insurance by using your credit card to pay for the rental. Some credit card companies offer benefits for using their rental insurance, so you may miss out if you accept the insurance from the rental company. Always consider the insurance you already have before accepting coverage from the rental company because your card’s coverage may be more beneficial.

Longer Rental Periods May Limit Coverage

While rental coverage is beneficial, it also comes with a time limit. Most coverage will only last for certain periods. For example, your credit card company may cover you for 15 days, while an auto insurance provider may cover you for 30 days. Remember how long you need the rental when deciding between plans.

States Have Rental Insurance Laws

Each state has laws for liability in the event of an accident. It’s important to know the state’s laws before insuring an expensive rental to know what coverage will benefit you the most. For example, if you get an exotic car rental in Miami, FL, it’s important to note that the rental company is not liable for any damages in an accident, but you are and will need to pay for repairs.

You Are Still Liable for Some Costs

Even with all the coverage you can get, you will not have complete coverage for all incidents. You will still be liable for the damages you incur, and you’ll most likely need to pay for repairing the rental vehicle. Insurance will help reduce the costs, but you won’t be completely off the hook, so drive your rental as safely as possible.

When you drive an expensive rental, you can count on having a great experience, but you will also need to get reliable insurance. Understanding rental insurance will help you feel safer, knowing what risks are present and how to prepare for any accidents.