This post originally appeared onNerdwallet.
You may ask yourself: Do I even need to buy coverage?
Won’t my auto insurance cover an accident?
What about those credit card benefits for car rentals?
Do I Need to Buy Additional Rental Car Insurance?
If your primary insurer does not cover these, you’ll need the waiver.
Protection is usually capped at $1 million and may cost about $7 to $15 a day.
If you use your own insurance, find out how much liability coverage it provides specifically for rentals.
What Do Popular Car Share Services Cover?
Popular car share servicessuch as ZipCar, Relay Rides, GetAround and Car2Go each provide members with insurance.
It offers comprehensive collision coverage and personal injury protection.
It also offers liability coverage of $300,000 per accident.
It offers three supplemental protection options for renters.
Car2Go is a one-way point-to-point smart car rental service.
Unlike ZipCar, it enables its customers to access cars wherever they are parked using a smartphone app.
Personal injury protection is offered on a state-by-state basis.
What Does Auto Insurance Typically Cover?
If you already have an auto insurance policy, you’re usually covered with a traditional rental too.
Liability usually works the same in a rental car-related claim as if you were driving your regular car.
Your primary policy will likely not cover loss of use, loss of value or other rental fees.
The company also will not cover for business purposes or driving overseas.
What Can Credit Cards Cover?
It includes physical damage, theft and loss of use.
MasterCard only offers car rental insurance on Platinum, Gold, World and World Elite cards.
The rental period is limited to 31 consecutive days and the maximum coverage is $50,000.
MasterCard covers the same events and has the same exclusions as Visa.
Platinum card holders can also receive coverage up to $75,000 for car rental loss and damage insurance.
Basic coverage does not include diminished value, taxes, wear and tear, property damage or injury.
Cardholders must decline full rental car insurance, but can accept partial coverage.
Discover limits its coverage to a few of its cards.
It does not cover theft, any damage not due to a collision or loss of use.
Additionally, card networks may exclude protection for certain vehicles.
Rental Car Insurance: The Basics| NerdWallet
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