So you just bought a car, it is common knowledge that when you purchase a car you must also purchase car insurance. What about for rental cars? Does your insurance cover that? What kind of insurance would you need for a situation like that?

If you already have car insurance, there is a pretty good chance that you are covered if you needed to rent a car for a day or however long you would need it. Most insurance policies will offer the liability insurance needed for this instance.

This insurance is covered in your personal policy, not the temporary insurance that the rental company will offer you. The coverage in your insurance policy will cover any injuries to someone else, as well as any injuries you might acquire in an accident.

Just in case there is a collision, it would be smart to purchase the collision coverage offered by the rental company. The risk reward situation here makes it definitely worth protecting yourself. Just a few dollars can potentially save you thousands or more down the line.

This insurance will cost between $10 and $20 per day, but it will save you in the long run from having to pay for any damages accrued while you were driving the car.

If you choose not to go with the insurance offered, you could end up paying for damages to the vehicle while you were using it. Your regular insurance company usually will not pay for these costs.

One way to protect yourself from other fees from damages is to pay by credit card. Believe it or not, there are credit card companies that will offer insurance for collision and theft when you rent a car. Just be sure to confirm that with your card company.

Unfortunately, this coverage does not cover damages to you or others. There are other types of insurance out there that may give you benefits like these, but the premiums will obviously be higher in this case. Still, the fact that credit card companies are offering such basic coverage is a benefit that should be appreciated when applying for and accepting any offer.

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