How Loss Damage Weaiver helps a person who is renting A car from a auto rental chain?
How can it help or I should say that how it canbenifit me? car rentals offer Loss Damage Weaiver as optional and for some rental it is mandatory to have, how it benifits a driver? why should we take it? if we don't take it what are the risk?
Well, your own insurance will carry over to your rental if you have a decent policy. However, you would still owe a deductible if an accident occured.
For example, lets say someone hits your parked rental. You are responsible for the damage to it if you dont ahve a loss damage waiver. Your insurance would cover all except the deductible (lets say its 500) but the loss damage waiver would cover that 500 for you.
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ck with your credit card company. many will cover you and you can decline the coverage
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Well, your own insurance will carry over to your rental if you have a decent policy. However, you would still owe a deductible if an accident occured.
For example, lets say someone hits your parked rental. You are responsible for the damage to it if you dont ahve a loss damage waiver. Your insurance would cover all except the deductible (lets say its 500) but the loss damage waiver would cover that 500 for you.
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The rental car company will try to make you think that you need their coverage (their very expensive coverage!). However, before taking the coverage, check with your insurance company to see if your policy extends coverage to the use of a rental car. Most major insurance companies extend coverage for a certain period of time (30 days, etc). If your policy does extend coverge to the rental car, then there is no need to take out the insurance through the rental car company. You would have double coverage if you did.
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