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The Insurance Corners of Wyoming Blog

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Should I Buy the Additional Car Rental Insurance?


Like most we sometimes need a rental car while traveling or maybe taking a much-needed overdue vacation.  When it comes time to renting that car were faced with the question from the rental car agency “Do you want to purchase the additional Damage Waiver Insurance”?

If you carry Comprehensive & Collision coverage on your currently owned insured Vehicle, then that coverage will extend to your rental car along with your chosen Liability coverages as well.  However, where your current policy coverages may be lacking a little is in the possibilities that may occur if you are in an at fault accident.

 One area of concern for example would be if those rental car repairs should take 2-3 weeks or more in the repair shop from that unfortunate accident you were involved in, then the rental car company would not be able to rent out that vehicle due to the damages and down time from the incurred loss and would suffer a loss of income that you may be financially responsible for.  Another possible area to consider is if the mentioned accident was severe enough to declare that rental vehicle a Total Loss, then the vehicle’s settlement evaluation may come into dispute with a potential diminishment of value claim along with any deprecations that were withheld for the Actual cash Value settlement.

Credit Cards can also be a helpful when it comes to renting car depending on the Credit card and its contract.  Not only will one most likely retain the rental car reservation with it, but Some of these companies offer Primary rental car coverage and others secondary coverage, so be sure to re-familiarize yourself with your credit card benefits beforehand so you can make those better traveling decisions.  

Our recommendation is to purchase the Collision Damage Waiver to protect yourself from any potential gaps while renting a car.  If one is still a little unsure about their Car insurance coverages, we also recommend reaching out to your Local Insurance agency and talk with your agent so you can have peace of mind while traveling the roadways.