As much as we would like travel to be spontaneous, it generally involves a lot of decision making. From researching and booking, to making itineraries, to creating checklists, trip planning takes attention to detail!
One such detail may be rental car insurance; and with the recent demand and increases in rental car costs, you’ll likely want to protect that financial investment. The last place you’ll want to make the decision, of whether you need rental car insurance or not, is standing in line at the car rental company.
What you need to know to make an informed rental car decision
When you rent a car, you’re liable to pay in case of theft, accidental damage or third-party claims. The last thing you want is to be unprepared while you’re in a foreign country, and the subsequent financial liability due to an accident or damage. To determine the right rental car coverage for your needs, start by researching your options:
- If you have personal car insurance or an auto insurance policy, the coverage should transfer to your rental car. But coverage rates vary by province, and they might not cover you everywhere you plan to travel to. Remember to confirm and clarify your existing plan or terms and conditions with your auto insurer before you go.
- Your credit card may also include rental car insurance, but don’t just take it at face value. Contact your credit card company to learn more about what they’ll cover. Many will only guarantee coverage if the car rental is paid using the card and if the rental is in the name of the cardholder. Here are some key questions to help you evaluate credit card insurance coverage.
- You could always get your insurance through the rental agency, but it’s not the cheapest and can easily double the daily cost of your rental. Besides, the collision damage waiver only covers the value of the car, and you’ll still have to ensure coverage for any personal injury or loss of property.
- Rental car protection is also offered by travel insurance providers, like us. You can add it to the emergency medical insurance you purchase, especially if you’ll be renting a car in a country where your auto insurance or credit card won’t cover you.
What TuGo’s Rental Car Protection covers
As you plan your travels ahead, check out some of the key benefits of our Rental Car Protection that can help protect the financial investment you’ve made in renting the vehicle. We’ll cover up to $75,000 for physical damage to the rented or leased vehicle. Benefits include:
- Coverage per trip, per vehicle for loss due to physical damage to a leased/rented automobile while it is in your care or control. Damage can be due to theft, collision, fire or even inclement weather such as a windstorm or hail.
- Also includes coverage for expenses such as towing, salvage, fire department charges, custom duties and reasonable loss of use.
Our Rental Car Protection can be purchased as an add-on optional coverage to Single Trip Emergency Medical Insurance, Trip Cancellation & Trip Interruption Insurance, Trip Interruption Insurance, Accidental Death & Dismemberment Insurance, a Non-Medical Package, or an All Inclusive Holiday Package.
Along with benefits, also read the policy wording’s conditions and exclusions, so you can be more informed. For instance, TuGo’s Rental Car Protection won’t cover you if you don’t have a valid driver’s license, if you’re operating the car as a commercial vehicle or have purchased a collision damage waiver from the rental or leasing agency.
What you need know if you’re in a motor vehicle accident
In case of any motor vehicle accident, three types of insurance may come into play. Check out this guide to learn more about each, along with step-by-step information on how to make a motor vehicle accident claim. Note that TuGo provides coverage only for physical damage to the rental car. You’ll still need third party liability insurance in case of any accidents on the road and resulting claims from other people due to medical injuries or damage to their car/property. You can purchase this through the rental car company or as an add-on to your auto insurance.
Car rental insurance may not be the top thing on your mind, but savvy travellers know how to make the most of available options in advance to save both time and money on their trip. If you have any questions, contact your local broker or call our Customer Service toll-free at 1-855-929-8846.
Happy travels ahead!
Melissa
