If you’ve carefully reviewed your auto insurance package and determined that you need a little extra coverage while driving a rental, take heart—you don’t have to settle for the $40 a day the rental agency is quoting you. Here are 5 quick tips to keep in mind while choosing your temporary insurance policy:
1. Only Get The Coverage Lacking In Your Personal Car Insurance
It’s a financially savvy decision to purchase and drive a paid-for used vehicle. This allows you to avoid both a monthly car bill and a pricier monthly insurance premium. However, you’re going to need full coverage when driving a rental, so be prepared to temporarily pay a little more. Keep in mind though that you don’t need to double up on anything—just look for the weak spots in your own policy, and fill them in with a little extra insurance for the duration of the car rental.
2. Buy From A 3rd Party Insurer Online, Not From The Rental Company
While rental coverage is a good idea, you don’t have to grudgingly accept the pricey policy that the rental car agency will offer you. There are a number of companies online that can offer you great collision coverage for a fraction of the price that you’ll pay at the pickup counter, so it’s worth shopping around a bit.
3. Choose The Model Of Your Rental Car Wisely
While you may have never seen yourself behind the wheel of a 2 door Geo, it’s always a good idea to rent for practicality and not comfort, especially if it’s only for a few days. Not only will you run a lower liability risk with a smaller vehicle, you’ll save a few dollars a day on your insurance rate.
4. Consider Getting A Non-Owner Liability Policy
This is mainly useful for those who travel on a frequent basis and don’t use a vehicle at home, but this can insure you for multiple rentals at a time, and can ultimately save you money over an individual policy for each rental car.
5. Plan Ahead For Your Insurance Needs And Stick To Your Guns
If you don’t have the time to select a cheaper policy online, you can still go into the rental car agency with a firm sense of purpose on exactly what you’re willing to pay for. If you have liability and personal injury coverage through your regular insurance, you’re probably just going to need the collision and theft protection policy, which will cut your bill in half. The car company will obviously try to persuade you otherwise—and it can be very easy to check a couple extra boxes on your rental form. So make sure you’re firm on what you want, and double check everything before you sign.
If you have any questions about car rental insurance, let us know, let us know. FYI you can get a policy for $7.99 a day, and have it in place before you ever put the keys in your rental.
Photo via Images of Money on Flickr