So you have chosen the car you want to rent, but you’re confused with all those terms and acronyms in the car rental insurance coverage?
Our car rental specialists at Spagg.com have prepared a guide to walk you through the various types of car rental insurance. Here are the main elements:
- LDW, DW or Liability Damage Waiver: this equals collision coverage on a personally owned policy. This part of the insurance/waiver is your protection from paying for losses on the car you rented if you damage it or if you’re victim of theft.
- PAI or Personal Accident Insurance: this is similar to the medical pay coverage on a personally owned policy. Pays medical coverage for injuries for passengers and drivers inside the vehicle.
- SLP or Supplemental Liability Coverage: equals liability in personally owned policy. Covers third party property and medical costs if you are at fault in an accident.
The most expensive parts of the insurance are the LDW and SLP. Car rental insurance packages typically range $23-$45 these days, depending on the city and state fault laws.
Other hints:
- Always check the deductibles you will need to pay in case of losses. They can change prices and can give you an extra headache in case anything happens.
- Don’t forget to check with your personal auto insurance if they already cover your car rentals. Car insurance packages can be almost as expensive as the car rental itself, so this can save you a lot of money.
- Credit card insurance: don’t assume your credit card insurance protects you before reading the fine print on their contract. They generally only cover the LDW part, and they have various restrictions on when they can be used.
So you have chosen the car you want to rent, but you’re confused with all those terms and acronyms in the car rental insurance coverage?
