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Damage Waiver Protection

You can save money passing on the Damage Waiver Protection from the car rental company. But many people have had an entire trip ruined over damage to their rental car. Many travelers are unsure about their coverage when they go to rent a car. Most people buy the rental car company's insurance just to make sure they are covered. But if you are already covered, via a credit card or your own insurance, extra damage waiver protection is not worth it. The key is knowing if you are covered.

With damage waiver protection, if you get into an at fault accident (especially abroad), your insurance company may not be involved. If you get ticketed for an at fault accident, your insurer may still raise your rates.

Buying damage waiver protection may not only cover damage to your rental car, deductibles, but also save you time in dealing with the rental company, your insurer and the credit card company. Time is money, and even if rental coverage is expensive, what is your time worth?

Your personal car insurance plans may not provide coverage for rentals during business trips and have certain $ limits. Your car insurance may also exclude coverage (including rentals) outside the US.

Damage waiver insurance is very profitable for car rental companies, offering many types of plans to choose from. Most offer damage waiver, supplemental liability, personal accident insurance, and personal effects insurance.

If you want your trip undisturbed and without stress over the rental, you can buy the car rental collision coverage. There is a certain dollar value for peace of mind.

Summary: It's boring and confusing, but read your car insurance company and credit card terms and conditions, it's better than being under insured in an accident. Some countries like Mexico will even take you to jail until the damage is paid for. So damage waiver protection may not be the rip off many claim.

Written by Craig J. Casey

Financial Writer helping people with their insurance problems on the net since 1998.

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