Many travelers arrive at the car rental desk and are presented with a range of rental insurance options to cover them in case of an accident in the rental car. Most people aren't familiar with their own insurance policies and end up paying for rental coverage they don't need as their existing car insurance already covers such incidents.
Here are some things you need to know before you get to the car rental desk to make sure you don't pay more than you need to:
Know your own car insurance policy before you travel - If you only have liability insurance, you may need to get the rental insurance to fully cover the vehicle. If you have collision or comprehensive coverage already, you likely do not need the additional coverage. It's worth the quick phone call to your insurance agent to double check and avoid unnecessary charges.
Know the list of rental insurance options - The rental company will likely offer four options in coverage: loss-damage waiver (covers all responsibility if the car is damaged of stolen), liability coverage (protects you from lawsuits if you hit another driver), personal accident insurance (covers medical costs) and personal effects coverage (covers any personal itens in the car).
These policies range in costs from as little as a dollar a day to almost $20 a day. Know which states require certain coverage, and make sure that you have the full amount of coverage you need (assuming you only have liability car insurance on your vehicle) to protect yourself financially in case there is an accident.
If you are involved in a car accident, make sure that you get the settlement and compensation you deserve by working with a skilled car accident attorney who can review your policy and advocate on your behalf should the insurance company try to low-ball you and pay less than you deserve