Car Rental Insurance?

Question

What happens if you rent a car and decline any coverage? I was told that if you were involed in an accident you would have to make a claim with your own insurance company. What if you don't own a car and thus don't have an insurance company? Are there limits to the amount of responsibility of the renter? I mean if the car is totaled does the renter really have to replace the entire cost of the car out of his pocket as well as damage to the other car and injury to it's occupants? I know i'm not alone in declining insurance. But if I got into an accident I always assumed I would just be responsible for a deductable and not the total amout of damage to the cars and injuries. Serious answers only. I really don't need to hear "yes, you need insurance or you're screwed" That tells me nothing.

Answer 1

yes, you will be bill for everything.  Also just a note, but I do not know of any rental company who will let you rent a vehilce without proof of insurance.  and by proof I mean  they  call and verify that you have an active policy in force as anyone can print up an id card.

Answer 2

The rental vehicle needs to be insured by your company or the rental company additional cost insurance. Even though i have insurance, I always pay the extra for the rental companies insurance so I don't have any surprises if I should have an accident. Read the insurance coverage contract to know what your responsibility is. There is a reason rental companies make you have a credit card to rent.

Answer 3

If you do not have auto insurance, it is in your best interest to purchase the additional rental insurance. This basically covers your butt if you are in an accident and are at fault.

However, if you are rich and have access to unlimited amounts of money, then there is no need to purchase the extra insurance.

Your assumption that if you were in an accident and you would only be responsible for a deductible is incorrect. Considering a deductible only applies to your INSURANCE, which you do not have and did not purchase. Therefore, you are responsible for the entire cost of the claim.

Answer 4

Your situation are typical for a lot of people,so,be patient and calm down,check the resource i found useful.http://carinsurance.expertsupport.info/a...

Answer 5

Most rental companies, in most places, provide basic public liability and property damage coverage for its vehicles and their renters and authorized drivers as required by applicable law. If the rental company provides it,it will cover any damages you cause to anyone else (property and injury), up to the minimum legal limits required by law.  If the rental company does not provide basic public liability you would be required to show proof of insurance to rent or drive the rental car.  

Car rental companies offer a package called SLI (supplemental liability insurance) or ALI (additional liability insurance).

This provides excess protection for bodily injury, death or property damage and increases the limits up to $1 million for the renters and authorized additional drivers of a rental car. It usually costs between $7 and $9 per day.

Excess coverage is that which above the limit required by law. In some areas, the SLI or ALI, if purchased, is excess to any other applicable coverage. This means the renter’s personal coverage is used first and the individual car rental agencies’ protection will not apply until the renter’s or driver’s insurance, if any, has been exhausted.

As far as coverage for the rental vehicle you are fully responsible for the complete value of the vehicle, the cost of any repairs to the vehicle and loss of use.   Loss of use is a fee that is charged by the rental company if your rental car is damaged and is sent out for repair. You would be billed a loss-of-use fee for every day that the vehicle was not able to be rented.  The loss damage Waiver offered by the rental car company covers loss of use.

Answer 6

If you have car insurance don't bother getting more.  If you get in an accident, they will come looking for you anyway and get your insurance company to pay half.  So why bother?

This is just an up charge all the rental places do. There looking for more ways to get you at the point of sales.

I've Never got it.  Never will...