Should I Buy Rental Car Insurance?

[Travel Guru]

I always wonder if I should buy rental car insurance. To be honest, I am a very cheap person. When we go on a vacation, we usually get a rental vehicle. The insurance for the rental is always/ usually at least as much as the cost of the car itself. That sort of ticks me off, and I'm left to wonder if I am just getting ripped off in the process.

I hate insurance in general. I have personally been driving for over 30 years, and I have never made an insurance claim. I have had home owner's insurance for over 25 years, and I have never made a claim. I have head life insurance for another 25 years, and I have never had to file a claim (knock on wood lol). I am spent a freaking fortune on insuring everything in my life, and it has done nothing for me.

But there's always that chance. there's a chance that you pick up your rental, decide to not insure it, and get in a big old wreck on the way to the beach. It's that fear that makes most of us opt in to the extra financial protection.

Is it worth it? Is it smart to get rental car insurance? here are some opinions I found: Renters should check whether their personal auto insurance policy and a credit card used for the rental provide sufficient coverage without buying additional insurance, NAIC says. Many credit cards include some collision and theft protection, but the benefits are usually secondary to personal auto insurance or the coverage sold by a car rental company. And personal auto policies that provide coverage for renters often include conditions. For example, they may not cover rentals on business trips and may limit coverage for long-term rentals. Personal policies also may not cover rentals in foreign countries.

It really comes down to analyzing your personal or business insurance policy, and then determining if extra coverage for the rental is necessary. It sucks, but it often is a wise choice to purchase the rental car insurance.