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Thread: Rental car insurance

  1. #1
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    Default Rental car insurance

    Was trying to rent a vehicle from budget yesterday and they stated their vehicles have no insurance on them whatsoever, not even 3rd party liability.

    Do car rental co's, ie budget, enterprise etc provide liability insurance with their vehicles when you rent them or is the onus on the renter to provide their insurance?

    Credit cards usually only cover damage to the rental vehicle, no liability coverage.

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    You need to be careful with how much you belive from the counter person. They are strongly incentivized to sell that insurance. Luckily the rental contracts spell out your personal liabilities pretty clearly. Try reading that.
    Quote Originally Posted by killramos View Post
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    You realize you are talking to the guy who made his own furniture out of salad bowls right?

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    ExtraSlow starting our day with some GD common sense.

    +rep

    Edit: You must spread some Reputation around before giving it to ExtraSlow again.

    Sorry bro.

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    I haven't used budget specifically but pretty sure all the rental companies are the same.

    1) If you rent just the vehicle you get no collision coverage (which is fine if your personal insurance covers rentals - but make sure you actually check)
    2) They offer a for sale add on to purchase insurance through them at a cost.

    I'm sure their vehicles do have very basic liability since that is mandated for all vehicles on the road. That being said if something happened you can be sure they'd try to go after you.

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    We rented from Budget when we went to Toronto last year.

    Paid extra for insurance because our CC only covered 3rd party. The extra insurance only covered up to a certain amount too, as per the agreement. I think it was something like $50k.

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    Your regular car insurance (assuming you have full coverage), will also cover rental cars. I was told it's best if you have a credit card that covers car rentals to use that 1st, so it doesn't affect your car insurance if you make a claim.

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    ^to his point, I was on a trip to the US recently and was planning my rental car insurance. My cc stated I'm covered only if I've paid for the full rental with my CC. However, I booked this rental car with Aeroplan points. I called my insurance company and they told me my personal car insurance covers my rental car insurance. I asked them to email me this fact, so I could show it to the counter if needed, when I picked up my car.

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    I just rented with budget this weekend in Kelowna. I paid by CC but I read the CC agreement for rental cars and it specifically says in bold letters 'the agreement does not cover third party liability'... So make sure your read your CC agreement before you rent. As said above, check your personal insurance for proper coverage.

    Also as a side note, I booked my rental over the phone. All I said was what time I'd be at the airport and what time I'd return it. I booked a full sized sedan but asked for an upgrade over the phone. Couldn't be done over the phone as you're supposed to ask at the counter. So before our trip, I went online and punched in my confirmation number and modified my booking to include the airline and flight info.

    When I got to the counter, I got a reduced rate because of special deal with WestJet. Wasn't a massive reduction but money saved was nice. I then asked for an upgrade and managed to get into a 2019 Cadillac XTS for no additional charge. Pretty sweet!
    Last edited by 16hypen3sp; 11-11-2019 at 02:51 PM.
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    In Canada the third party liability coverage comes from the vehicle owner which in this case is Budget. You could be responsible for collision & glass coverage but that's normally covered by your credit card and or proper personal car insurance. Call your broker to confirm.
    "Masked Bandit is a gateway drug for frugal spending." - Unknown303

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    For liability:

    This is for damages you inflict, at fault, to other parties other than rental vehicle itself.

    If you have your own car insurance on your own car, your coverage follows you in US and Canada for any car you rent. Read the fine print.

    If you don't own a car, you may have to check and buy supplemental liability coverage because rental company only covers state/provincial minimum. So if you end up in Texa, state minimum is something stupid like $60K, it may leave you with a huge bill if you screw up. In AB, it's $200K.

    For Collision:

    This is for damage to the rental vehicle while in your care.

    If you have your own car insurance, check for SEF27 option for non-own vehicle. If you have SEF27, you are covered.

    If you don't have your own car insurance or didn't buy SEF27, you can have this covered by your CC buy paying your rental with it.

    There is restriction on both SEF27 and CC Collision Damage Waiver. No trucks, commercial, exotics and MSRP of car usually have to be under $50-$65K. Read you contract.

    If neither option is available to you again, you can buy from rental company on pick up. Buying insurance from rental is a last ditch option as it could cost from $15/day and up. For that price, I may as well add SEF27 to my own policy for like $50/year before picking up the rental.

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    Definitely be aware of the coverage your CC provides.

    For eg. I rented a VW van in the EU last summer, but it had belts for more than 7 pax (8 seats) - which meany my CC (BMO, World Elite) would not cover it in any way.

    Right in the fine print!
    Last edited by revelations; 11-18-2019 at 11:39 AM.

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    Does anyone know if their insurance covers Turo in the US?

    I've called my insurance (Aviva/Costco) and could not get a straight answer out of them
    J

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    One thing cc and insurance doesn’t cover is loss of use. So if the car goes in for repairs for 2 weeks, you’re out of pocket for 2 weeks of rental as well.
    Originally posted by SEANBANERJEE
    I have gone above and beyond what I should rightfully have to do to protect my good name

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    Quote Originally Posted by Mys73ri0 View Post
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    Does anyone know if their insurance covers Turo in the US?

    I've called my insurance (Aviva/Costco) and could not get a straight answer out of them
    TD told me that I was covered for any turo that I rent that was worth less than 100k. I have the grand touring solution option which includes rental coverage.

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    Quote Originally Posted by rage2 View Post
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    One thing cc and insurance doesn’t cover is loss of use. So if the car goes in for repairs for 2 weeks, you’re out of pocket for 2 weeks of rental as well.
    One of my CC does. I do have to check others.

    You are provided with the same protection against
    losses arising from the contractual liability assumed when renting and
    operating a rental vehicle as You would have if You accepted the rental
    agency’s collision or loss damage waiver (or similar provision) up to
    the actual cash value of the damaged or stolen rental vehicle as well
    as any reasonable, valid and documented Loss of Use, reasonable and
    customary towing charges and administration charges resulting from
    damage or theft occurring while the rental vehicle is rented in Your
    name.
    https://www.pcfinancial.ca/docs/defa...ite_coi_en.pdf

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