| If
you have fully insured your own vehicle, including collision
and comprehensive coverage, and rent a vehicle for pleasure
only (while on vacation, for example), you may not need to
buy extra insurance from the rental company. But check
the rental contract carefully. Different rules
apply when you rent a car for business purposes, so check
with LPL Insurance for details.
Importantly do not
buy a Collision Damage Waiver (CDW) from the rental company assuming
it is insurance. A CDW simply releases you from
financial responsibility of you damage the vehicle you are renting,
provided you comply with the terms of the rental
contract. But those terms can vary considerably, and
CDWs are not state-regulated, which means they are
technically not insurance.
It's always a good
idea to review your policy before renting a vehicle
and, if necessary, contact LPL Insurance for
clarification.
Click HERE to return
to our Auto Insurance Section
|
