Rental Car Insurance Rates
Rental car insurance rates are much higher than the standard insurance prices. You may need to pay more than you bargained for when insuring a rental car if you opt for the coverage policy offered through the rental car agency. Prepare yourself (and your wallet) this vacation by familiarizing yourself with the various coverage options, rates and choices when it comes to insuring a hire vehicle. By shopping around, comparing best rated coverage and finding the discounts on rental car insurance rates, you will have more money to spend on your holiday and less money invested in your rented vehicle of choice.
Renting an Auto Rates
Renting a vehicle is a fairly common thing to do if you are driving out of state or on holiday. You don’t have to rely on public transportation or expensive taxis and can enjoy a self-drive experience. Whether your travels take you north, east, south or west, you can find the right car to take you there through a rental car agency.
Because there are so many different vehicle-for-rent places in America, you will be offered fairly competitive prices when looking into renting a vehicle. You can find a sedan or coupe for as little as $15 per day. You will also find a wide variety of brand new vehicles including convertibles, 4 wheel drive vehicles and even classic cars. However, most rent-a-car companies will then add on an insurance premium which can increase the cost to rent a car by more than you hoped for. While you should not risk driving without insurance, there are a few ways to reduce the amount you spend on your rental auto insurance rates and drive away with a discount, even if you are away from home.
When you rent a vehicle you will be offered coverage as part of the price. Rental car coverage usually consists of collision damage waiver (CDW) coverage and theft coverage. This will pay for the damage to the vehicle if you are in an accident or if the vehicle is stolen. You can choose to add on additional coverage but for much more money.
However, you do not have to choose the policy and the provider that the rent-a-vehicle agency has picked out for you. You can choose your own coverage agency and policy to include on the company paperwork. This is important to remember and also an easy way to save a small fortune on your holiday vehicle fees.
Ways to Save on your Rental Car Insurance
Before you head out on your holiday, check and see if your current provider offers coverage for a rented vehicle for affordable rates. You may be surprised to find out that you are already covered under your selected premium. Or, you may need to only pay a fraction of the cost for rent-a-vehicle rates to get this temporary coverage added onto your policy.
Another way to save on your rental car insurance rates is to look for a credit card or bank charge card that partner with an insurance agency. Some cards, such as the American Express Dollar Card provide free insurance when you hire a vehicle. You may even belong to a credit card that offers this coverage and not even realize it.
You may also be able to get cheap rental car insurance rates through your travel agency. Speak to the various companies online or in town and see if they can provide you with a quote for renting-a-vehicle coverage. Most travel agencies will be able to provide CDW coverage at a greatly reduced price that what is offered through the rent-a-vehicle companies.
Compare Rental Automobile Insurance Rates
Make sure you check the excess or deductible amount when you are comparing rental car insurance rates. Most rental cars come with extremely high deductibles, such as $3000 to $5000. What is the amount you will need to pay if you are in an accident. You may choose to find a policy that comes with a more acceptable excess (such as $500). Or, you may be happy paying the deductible selected if this means a better rate. Either way, it is important that you understand what you are signing into before accepting any policy and agreeing to their rental vehicle insurance rates.
Perhaps the best way to save on your rental car insurance rates when you are planning on renting a vehicle is to always shop around and compare prices. Through an online search you will have instant access to a number of policy quotes and cheap rates offered to those looking to rent a car. Whether you are renting a car for one day, one week or one month, an online comparison can help you sort through your options and select the most adequate coverage for your specific needs.
