When you need a temporary vehicle, you may feel overwhelmed by the prospect of getting insurance and opt out of renting. However, if you understand how rental car insurance works, you will likely have a seamless, worry-free experience along with a safer journey using the car.

Car rental insurance is important for securing yourself against unforeseen events like accidents, thefts, and damage. See car rental insurance, its different types, and factors to consider when obtaining it.

Rental Car Insurance Types

Mishaps with a rented vehicle happen often, and you shouldn’t underestimate them. The right insurance can make all the difference in how you’ll be able to handle unforeseen challenges once they happen.

That is of great importance if you rent luxury cars. So, we are dedicated to providing you with an unparalleled experience in the world of luxury car rentals. You can check our fleet of luxury cars and experience the city differently.

Understanding the variety of rental car insurance options is crucial for preparedness. Selecting the right coverage for our exotic cars ensures readiness for unexpected situations. Consider the following types of rental car insurance:

• Collision damage waiver
• Liability insurance
• Personal accident insurance
• Personal effects coverage
• Supplemental liability insurance
• Uninsured motorist protection

Collision damage waiver

Often referred to as loss damage waiver, CDW is a standard form of rental car insurance. It can shield you from repair costs in case the vehicle gets damaged in an accident, theft, or an act of vandalism. Sometimes, it can even cover against acts of nature like storms and falling trees.

You should know that CDW doesn’t typically cover specific car parts, such as tires, windows, or the interior. It also may not cover damage that results from reckless or negligent driving while operating the vehicle. The CDW is usually offered as an optional add-on and priced as a daily fee.

Liability insurance

This type of insurance primarily covers injuries and some damages you may cause to others while driving a rental. If there are injuries, liability insurance covers medical expenses, legal fees, and compensation for injuries or deaths of other people involved in an accident where it gets determined that you were at fault.

Moreover, liability insurance covers the cost of repairing or replacing other people’s property you may have damaged. This can include vehicles, buildings, or other structures that sustained damage in the accident.

We advise you to be cautious because, in some locations, it’s required by law to have liability insurance while operating a rental. Failure to comply can result in fines and other legal consequences if you happen to be involved in an accident.

Personal accident insurance

PAI is an optional rental car insurance that covers the driver and the passengers in case of accidents while using the vehicle. It covers the medical bills in case of injuries, which include hospitalization, surgery, ambulance fees, and other treatments.

If there are fatalities, there is a death benefit to the holder’s beneficiaries. In the case of permanent disability or severe injuries resulting from an accident with the vehicle, it can provide financial support. This helps all passengers cope with the physical, emotional, and financial challenges.

Personal effects coverage

When renting a car, there is an option to get PEC insurance to provide protection for your personal belongings in the event of a theft. It also covers damage to those belongings inside the rental car. We recommend this because it’s especially beneficial in cases where you must carry valuable personal items, as those situations can cause a lot of stress.

PEC typically gets offered as an add-on to a rental and comes with an additional fee calculated on a daily basis. Such coverage depends on whether you are planning to carry objects of value while driving the rental car.

Supplemental liability insurance

This insurance extends the standard liability coverage beyond the limits of its basic form. Like liability insurance, it also helps protect you in case you’re involved in an accident that results in injury or property damage to others.

We mention this type of coverage as some areas may have higher legal requirements out of the liability insurance, and they may be mandatory. For example, if you’re traveling abroad by car, your basic plan for liability insurance may not be enough to cover the obligations.

Uninsured motorist protection

Uninsured motorist protection or UMP is rental car insurance that provides coverage when you are involved in an accident with an uninsured driver. It also provides coverage if the driver on the other side is underinsured, meaning that their insurance may not fully cover your medical expenses or property damage costs.

It’s an incredibly beneficial protection in areas without mandatory insurance or with low insurance requirements for drivers. Having UMP ensures that you are not left exposed to the substantial costs resulting from accidents and offers valuable peace of mind.

How to Get Rental Car Insurance

There are several rental car insurance ways. You might get it from our car rental company – Fisher Luxury Rental or look for outside insurance providers. There’s the possibility to use the existing insurance you have if it covers rental cars. 

However, the choice will depend on what works best for you and the specific situation you find yourself in. Here are the options:

Rental companies

It’s the most convenient and frequently taken option, as we offer a variety of insurance choices that you can easily add when picking up your rental car. The good thing about renting from rental companies is receiving instant insurance. 

Contact us before renting and you are protected from the very moment you enter the car and drive away. Otherwise, you would be left vulnerable during the period between picking up the car and acquiring rental car insurance from somewhere else.

Also, we are convenient because we have simplified the process of obtaining insurance and have integrated the costs into the rental agreement. We understand that trust is the foundation of any lasting relationship, and we hold ourselves to the highest standards. When you choose FLE, you trust a company that has built its reputation on delivering unforgettable experiences.

Credit card companies

Renting from credit card companies is a cost-effective way to obtain rental car insurance. It offers potential savings and solid coverage when you meet the eligibility criteria and follow the necessary steps to obtain the insurance benefits.

To rent from credit card companies, you should start by reviewing the benefits associated with your existing credit cards. Different cards offer varying levels of rental car insurance coverage. It’s usually explained in the documents you have signed to obtain the cards.

Credit cards have eligibility requirements to activate rental car insurance, which you must adhere to. Furthermore, paying for the rental car with the same card and declining the rental company’s insurance offer is usually part of the deal.

Third-party providers

If you want to acquire insurance from third-party providers, we advise you to research their coverage options thoroughly. It’s best if you choose a more reputable provider to avoid coverage issues or complications during your rental period.

Third-party insurance providers tend to offer flexibility and cost-effectiveness for their clients. The fact that they offer tailored coverage to meet specific needs is also advantageous. It allows you to customize your insurance according to your circumstances. 

Once you choose a provider, contact them to request a quote. Once you provide them with the information about your rental car, the duration, and the coverage you’re interested in, they will have the necessary information to calculate the cost.

It’s best to inform us about your desire to obtain insurance from a third-party source. We will request proof of coverage or at least contact information for the provider.

Factors to Consider When Choosing Rental Car Coverage

When choosing rental car insurance, you should consider several factors to ensure that you select the right coverage that matches your needs. We have included some factors to have in mind:

Existing insurance

Your existing insurance may provide some degree of coverage for renting cars. This could save you money as you wouldn’t be duplicating the coverage. For example, if your insurance already covers collision and liability for rental cars, you may not need additional coverage. Or, you may get one that merely supplements your coverage.

Type of rental

If you’re seeking insurance for exotic cars, you may want to purchase extra coverage to protect against damage or theft. We invest in the top trims of every luxury car, ensuring that each vehicle in our fleet is a masterpiece. We believe that you deserve nothing less than the best.

Conversely, if you are renting a standard vehicle for a short period, then basic coverage may suffice.

Duration

We recommend you always look for the insurance length to match the duration of your rental. Having insurance that lasts less than the rental may result in high costs in the event of an accident. Having insurance that’s longer than the rental may result in unnecessary costs for something you won’t be using.

If you no longer require the vehicle, some companies allow you to terminate your insurance.

Location

The insurance requirements and regulations can vary by region or country. Some areas have higher minimum requirements than others, and you may need to upgrade your plan to comply with the laws. Or, you may need to purchase additional insurance to protect from uninsured drivers if the area’s requirements are lower. We recommend that you conduct thorough research.

Conclusion

Rental car insurance is vital for a worry-free driving experience. Fisher Luxury Rental offers a diverse fleet, including the Audi R8, McLaren 720S, BMW Alpina B7, and Chevrolet Corvette C8, each providing a unique blend of design, comfort, and speed. Explore insurance options like collision damage waiver, liability insurance, personal accident insurance, personal effects coverage, supplemental liability insurance, and uninsured motorist protection.

Whether obtaining insurance from rental companies, credit card providers, or third-party sources, consider factors like existing coverage, rental type, duration, and location regulations. Trust Fisher Luxury Rental for an unparalleled experience with top-tier luxury cars.