To Buy or Not To Buy..That is the Question

Holiday travel is right around the corner. We all have our own unique ways to prepare a roadtrip, from the overpackers to those who throw a bag together last minute. But have you thought about your insurance?

One of our most common questions at Seamonds Insurance is “Do I need to buy the rental car insurance?”. The question isn’t always a simple answer. Each insurance company and each policy can be different. It is important to know your coverages before making your decision on additional insurance from the rental company.

Rental car companies offer many different types of added-on coverage. Instead of feeling the pressure at the rental counter, is is better to be prepared. Depending on your specific travel adventures and what state/country you are entering, it might make sense to purchase additional coverage.

If you are planning on renting a vehicle during your trip, your auto insurance will likely extend to your rented vehicle. Keep in mind the coverage matches the vehicle with the most coverage on your policy. We will help you take a deep dive into your policy. You will want comprehensive and collision coverage for the most effective coverage. We recommend checking the limits you selected for your policy. If your medical payments or liability coverage limits are low, you may want to consider increasing these coverage limits.

Certain charges, such as towing fees or “loss of use” costs when car is being repaired, may not be covered by your policy. This means the rental car company will hold you responsible. If the company repairs the vehicle, they may charge you for a perceived loss in value.

If you have personal property stolen damaged, your homeowners or renters insurance may cover your belongings. Don’t forget to check with your credit card company. The may also offer complimentary coverage for stolen or damaged personal property if you used the card to reserve the rental.

Plan ahead to make sure you have the right insurance to avoid unnecessary costs. Seamonds Insurance will help you determine whether to buy or not to buy optional coverages.