Simply Explaining Insurance #110- Renting a car for work
If you travel for work and need to rent a car, do you know if you are covered? Are you willing to risk a claim on your personal auto policy if you are in an accident while renting a car for work?
The rental car company does offer its coverage and it is excellent. You can purchase coverage that covers the vehicle (collision damage waiver). You can also purchase liability. You can essentially drive a car into the Pacific Ocean and walk away. There is a daily charge for these and it can add up pretty quick.
If you want to decline their coverage, there are a few checks and balances that you can do to make sure you are covered. There is a coverage called “hired auto” that is an optional coverage on a commercial general liability policy or a commercial auto policy. This will cover the liability portion when you rent a car, but not the actual car itself.
There is an additional coverage called, “hired auto physical damage” which will cover the rental car in the event of an at-fault accident. If you have both of these, you can rent a car and the proper coverage will be in place for you. The one thing that these may not cover, is the downtime the rental car company may charge while their vehicle is in the shop getting fixed.
The other thing that can help you is the credit card that you use to pay for the rental. Many credit cards offer coverage for both liability and physical damage when renting a car.
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