G
Guest
Guest
Are you recommending when clients take a rental car, that they get the insurance coverage from the dealer?
- 15,041
My agents always told me I was covered by my auto policy.
The rates rental car companies charge is outrageous. Also, don't a lot of credit cards offer this coverage?
The rates rental car companies charge is outrageous. Also, don't a lot of credit cards offer this coverage?
I don't recommend that they take it or don't.
With most policies, they are covered with a couple of minor things that they need to be aware of. I tell them this and let them decide what they want to do.
- If involved in an accident, they still pay the deductibles on the policy. If they use the rental companies insurance, they don't have a deductible (and the claim won't show up, probably, unless there is an injury).
- If they are involved in an accident, the rental car company will probably charge them a daily rental rate while the car is repaired. This will not be covered by the insurance company, but some credit cards will cover it. Figure you will add 10 days of rental on top of the deductible.
So, odds are, you won't have an accident. Truth is, if you had an accident in your own car, you would pay the deductible, no difference there (except driving a strange car, more likely to have an accident).
You decide.....
Now, I have had the occassional claim where a client was driving a rental car while theirs was being repaired from an accident. Yes, you guessed it, they total the rental car as well. Paying 2 deductibles back to back can be a big 'ouch' for a lot of people!!!!!
Dan
With most policies, they are covered with a couple of minor things that they need to be aware of. I tell them this and let them decide what they want to do.
- If involved in an accident, they still pay the deductibles on the policy. If they use the rental companies insurance, they don't have a deductible (and the claim won't show up, probably, unless there is an injury).
- If they are involved in an accident, the rental car company will probably charge them a daily rental rate while the car is repaired. This will not be covered by the insurance company, but some credit cards will cover it. Figure you will add 10 days of rental on top of the deductible.
So, odds are, you won't have an accident. Truth is, if you had an accident in your own car, you would pay the deductible, no difference there (except driving a strange car, more likely to have an accident).
You decide.....
Now, I have had the occassional claim where a client was driving a rental car while theirs was being repaired from an accident. Yes, you guessed it, they total the rental car as well. Paying 2 deductibles back to back can be a big 'ouch' for a lot of people!!!!!
Dan
- 882
I'd agree with Dan but I would tell folks that while the insurance option is not cheap, it does keep the claim OFF of their policy & thus, no loss of discounts on their own policy.
As a business owner, I always buy the insurance for that exact reason. I can deduct the insurance as an expense that way
On my last vacation, the rental car company told me that even though my insurance would cover their car it would not cover their lost income from that car. They strongly recommended that I buy their income protection coverage. I didn't buy it but it would have scared many people into buying.
- 15,041
Look at the pricing. Often the insurance coverage is almost as much as the car itself. Its a huge profit source for them.
- 882
I just found this out.
This is what I'll do from now on! Use your AMEX Card. Insurance through AMEX is a FLAT $24.95 per rental period, vs per Day by the Car Rental company.
Coverage includes 1) reimbursement for damage to or theft of the Rental Auto and personal property, and 2) medical expenses and death and dismemberment benefits resulting from a Covered Accident. Coverage is worldwide
What the Plan Covers
The $100,000 coverage level with a premium of $24.95 covers:
Up to $100,000 of primary damage and theft coverage for the rental car.
• Up to $100,000 of Accidental Death and Dismemberment (AD&D) coverage.
• Up to $15,000 per person of excess coverage for Medical Expenses.
• Up to $5,000 per person of excess coverage for personal property, maximum of $10,000 for all. For Florida Residents, up to $15,000 per person of excess coverage for personal property, maximum of $25,000.
I just checked it out. Awesome benefit.
AMEX Car Rental Protection
This is what I'll do from now on! Use your AMEX Card. Insurance through AMEX is a FLAT $24.95 per rental period, vs per Day by the Car Rental company.
Coverage includes 1) reimbursement for damage to or theft of the Rental Auto and personal property, and 2) medical expenses and death and dismemberment benefits resulting from a Covered Accident. Coverage is worldwide
What the Plan Covers
The $100,000 coverage level with a premium of $24.95 covers:
Up to $100,000 of primary damage and theft coverage for the rental car.
• Up to $100,000 of Accidental Death and Dismemberment (AD&D) coverage.
• Up to $15,000 per person of excess coverage for Medical Expenses.
• Up to $5,000 per person of excess coverage for personal property, maximum of $10,000 for all. For Florida Residents, up to $15,000 per person of excess coverage for personal property, maximum of $25,000.
I just checked it out. Awesome benefit.
AMEX Car Rental Protection
- 15,041
That is awesome Bob! Thanks for sharing.
I don't care what RBA says, you are worth having here.
I don't care what RBA says, you are worth having here.
Similar threads
