Rental Car - loss/collision damage waiver

[gostovp]

Question for you Roksliders … wife and I are traveling to Las Vegas this next week (actually moving my parents via uhaul out there and flying back), and we are gonna stay a few extra days for a mini-vacation. Thinking of renting a car for a few days as my parents new place is actually down in the Henderson area.

I’m confused about the Loss Damage/Collision Damage waivers the rental car companies sell (which are like $30 a day) . These are NOT insurance but basically a contract that waives your liability to any damage to the rental car ( assuming you haven’t violated the terms of the rental agreement… no racing/ off-roading/etc). Do you typically get these? I called my insurance company and they do cover the rental car just like my own car (deductible and what not) and liability just in case I hurt someone. Also I called my Visa card and they have rental car coverage as long as I decline the coverage from the rental company… but i don’t think it cover “loss of use “ revenue or “ diminished value of the vehicle “ due to damage…

I’m just wondering if anyone on here has some experience with this and could offer insight… should I get the Loss Damage Waiver or not….thanks!!!

 

[MuleyFever]

Hit a racoon with a rental last year in TX. It smashed the lower part of the front end. Credit card paid the bill.

 

[Mk44]

If you have full coverage/collision coverage on your own vehicle you do not need the rental agency's damage/collision ins. coverage. Your own auto insurance (collision covg.) will cover the damage on a rental vehicle in the case of an accident.
Yes, some C.C also cover rental car damage.

Rental car agencies will always offer their own insurance. If/when you select the rental car damage/collision insurance. It covers the repairs on the rental without having to involve/ report it your own auto insurance company.

Some people "only" have liability insurance on their own vehicle. Liability ins coverage only covers the damage to other people's vehicle when you're liable for the accident. Your liability coverage does not cover the damage to your vehicle or the rental vehicle that you're operating.

 

[BFR]

Only insight I have is this; Henderson and Vegas are just one big Kamakazee race track, most posted speed limits are a suggestion, 65 mph expect 75 to 90 mph traffic. Unless you’re lucky enough to be in rush hour then it 0 to 55 with sudden stops.
As for the insurance, sometimes I get it sometimes I don’t, depends on where I am.
Either way, have fun. You’ll have a great excuse to come back.

 

[sodaksooner]

I don't typically get it if I rent personally which is rare. My company covers it and it's basically a big umbrella policy. I don't really see it in the rental agreement though. Its not a line item on the receipt for us. It's just "included"

 

[Blacktocomm]

Credit Cards or your insurance may cover rental car damage.

The easiest way to answer this for yourself is call your insurance agent and ask "What is my coverage on rental cars"

If they say full standard coverage rip it and grip it. Drive it like a rental which is known to be the fastest car on the face of the earth. (R.I.P. when Top Gear was good)

 

[AZ_Hunter_2000]

The part typically not covered is loss of income on the rental side while the vehicle is being repaired.

Since I travel a lot, I wound up getting a special rider on my current insurance policy to cover it. Wasn't much a year to add (less than a few days of "insurance" offered by the rental company).

But for a hunting vehicle, the best is a rental with the full suite of offered coverage. Done this more than once and will likely do it again.

 

[Geewhiz]

I have always been advised to pay for the full coverage insurance through the car provider. Its a nominal fee and it completely covers everything. Worth it to me for peace of mind. I have been told by the car comany that if something happens to the car I can literally just walk away and not have to worry about dealing with it or having my personal policy rates going up.

 

[AZ_Hunter_2000]

I have always been advised to pay for the full coverage insurance through the car provider. Its a nominal fee and it completely covers everything. Worth it to me for peace of mind. I have been told by the car comany that if something happens to the car I can literally just walk away and not have to worry about dealing with it or having my personal policy rates going up.

Offered coverage is not "nominal" based upon my personal experience. Perfect timing as I had to book travel for an upcoming trip.

Rental 5 days
* Base: $345
* Base Taxes/Fees: $139
* Offered Coverage: $288

The offered coverage is 83% of the base rental price. In most situations it is a complete waste of money.

 

[gostovp]

Yeah if you read the rental agreement not only are you on the hook for the repair costs, but also any “loss of revenue/income” as well as any “administrative “ fees.

I called my own insurance and yes my full coverage would extend for the collision/comprehensive and liability but would not cover those loss of revenue fees. Also I called my credit care company ( I have a Costo Visa) and they have rental car coverage as well, but it’s secondary and doesn’t cover any deductibles, I can’t tell if it specifically covers loss of use.

 

[wyosteve]

If you have collision coverage on your own vehicle you do not need the rental agency's damage/collision ins. coverage. Your own auto insurance (collision covg.) will cover the damage on a rental vehicle in the case of an accident.
Yes, some C.C also cover rental car damage.

Rental car agencies will always offer their own insurance. If/when you select the rental car damage/collision insurance. It covers the repairs on the rental without having to involve/ report it your own auto insurance company.

Some people "only" have liability insurance on their own vehicle. Liability ins coverage only covers the damage to other people's vehicle when you're liable for the accident. Your liability coverage does not cover the damage to your vehicle or the rental vehicle that you're operating.

Not exactly correct. With State Farm at least, you need an additional 'rental vehicle' addendum to your policy to be covered for damage/collision. Regular policy without addendum just covers loss of use. I just learned this by calling them before I rented a vehicle on a recent trip. Coverage cost is minimal. Best to clarify with your insurance carrier.

 

[gostovp]

Not exactly correct. With State Farm at least, you need an additional 'rental vehicle' addendum to your policy to be covered for damage/collision. Regular policy without addendum just covers loss of use. I just learned this by calling them before I rented a vehicle on a recent trip. Coverage cost is minimal. Best to clarify with your insurance carrier.

Did you end up getting the LDW from the rental car company ?

 

[wyosteve]

No, I added it to my primary policy. Cost was $15 for 6 mos. Rental agency wanted $28 per day if I recall correctly.

 

[Geewhiz]

Offered coverage is not "nominal" based upon my personal experience. Perfect timing as I had to book travel for an upcoming trip.

Rental 5 days
* Base: $345
* Base Taxes/Fees: $139
* Offered Coverage: $288

The offered coverage is 83% of the base rental price. In most situations it is a complete waste of money.

Yeah maybe nominal wasn't the right worD. Can definately add up. I dont travel/rent cars often and the times I have, have been just for a day or 2. In the scheme of things an extra 50 or 60 bucks is worth it to me for peace of mind. But over a week or more it becomes significant.

 

[mitchamafied]

I would use a credit card that has a primary collision damage waiver. Some are secondary. Having coverage through your credit card prevents you from having to make a claim on your personal car insurance. I used coverage provided by my Bilt card to save literally hundreds in Costa Rica, where they have pretty high rental vehicle insurance. Bilt is the only no annual fee care I know that has primary collision damage waiver coverage, I believe my $99 a year CSP has similar coverage as well.

 

[Rich M]

I almost always get it. And pay with CC and have my vehicle insurance card with me.

You only need 1 accident or a joker to back into the car at a parking lot and it will seem inexpensive.

Bottom line it is your call. We all take the risks that we feel are worth taking.

 

[deltadukman]

I will say I am an insurance agent and yes, more than likely if you have full coverage on a personal vehicle, it will pay for the damage, however, most personal auto policies don't cover the BS loss of use that the rental car companies charge you while it is getting repaired. Also, we have seen an uptick in the rental car companies claiming rock pecks and other blemishes that may or may not have been caused by you. Take a full up close walk around video when you rent and return it. I had a client turn a vehicle back in. The rental car company left it out in the rain over the weekend with the window rolled down. Runied the electric locks and window actuators in that door and soaked the interior. It was a mess getting him out of it. Me personally, I pay the damage waiver and rock out. I'll send it back on a rollback if it have to.

 

[def90]

My credit card covers any rental car damage. I had to make a claim about 20 years ago for a rental car on Grand Cayman, someone kicked in the door panel in a restaurant parking lot. Talked to the credit card claims rep on the phone and all was taken care of and never heard back from them.

 

[DuckDogDr]

I have always been advised to pay for the full coverage insurance through the car provider. Its a nominal fee and it completely covers everything. Worth it to me for peace of mind. I have been told by the car comany that if something happens to the car I can literally just walk away and not have to worry about dealing with it or having my personal policy rates going up.

This !!
My insurance company can some times try and pull some fuggy wucky stuff and I pay the extra to hopefully not have to deal with any more headaches than already is involved in a rental

 

[Ucsdryder]

if you do get it, don’t get the pai or slp, just the dw. They’ll try and package them up. Make sure you are paying attention. You don’t need full coverage, or basic or anything else. Just the DW. Also I don’t believe all states allow them to charge the loss of use fee. Pretty sure they can’t do it in california but don’t quote me.