Don't buy rental car insurance - Unless you can't afford Loss of use

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Please consult your agent before making any changes you feel you are not knowledgeable with. Due that the laws being different in each state, I am not responsible for any changes or updates that may have occurred after the making of this video.

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[Yostyburneraccount]

Agent here. I use to work in rental cars and I sell insurance. In my opinion it depends on how long you rent the vehicle. If you rent less than a week I personally buy the damage waiver. Seeing it first hand it’s worth it.

[acetvr]

In Florida at least, you have to have comp/collision in order for it to transfer to rentals I believe. However I had never heard that the loss of use wasn't included in their own rental agreements

[baba]

I am planning to rent a car for a week. The insurance from Hertz will cost me 40 dollars a day which will be about 280 for a week. My personal insurance have 1000 deductible. In the case of accident, I think it is more beneficial to pay for 280 upfront instead of 1000 deductible I have to pay if I do get into an accident?

[jamescc]

I have Wawanesa and they don't cover loss of use. We plan to go Toronto Canada, stay for 5 days, nd will try to get info from car rental there to see if I am required to buy this particular coverage or not. This is the first I have heard about this from my insurance company so good to know.
I did not buy this in the past.

[mt.shasta]

In Las Vegas we have loss of use. The customer must rent the vehicle each day it’s out of service, not at the reservation rate, but the daily walk up rate, which can be double or triple the reservation rate., regardless of fleet utilization. That’s why you always take the loss damage waiver from the rental company, not a third party like Allianz, it covers the loss of use and the collision on the rental car. The large majority of insurance companies do not cover loss of use. The daily walk up rate here today 3/24/2022 is for Hertz $146.00 per day for a full size car, the vehicle could sit for weeks waiting for parts and service. If a person has their own liability car insurance they can use that for the other person’s car and the other persons medical/injuries. People have no idea how much risk they are signing for, the only thing that actually teaches them is when they have to go through the actual process.

[frankfeeley]

Don't use Advantage Rent A Car in Orlando. They charged me $850 for a chip in the windshield that was already there. I wish there was an agency that would investigate them. I notified the BBB and they have over 30 complaints in the past year that all went unanswered. They also have an F rating. BEWARE

[christophervarela]

My personal insurance never warned me about not getting rental insurance. Now I'm out 252.00.

[mt.shasta]

In Nevada we have loss of use. Most insurance and credit cards do not cover loss of use. And it’s important to know that the loss of use daily rate is not your reservation rate…..it’s the daily walk up rate, which is generally 2 to 3 times your reservation rate. If the car is waiting for parts for two weeks that’s gets into many thousands of dollars. You always want to get the lost damage waiver. It covers all damage, regardless of fault, and most importantly loss of use. It’s like a get out of jail free card. In Nevada loss of use is charged REGARDLESS of fleet inventory. That’s why they take the credit card deposit, they will blow up your credit card with the charges, and they will call the bank and force charge anything beyond the credit card limit. Yes it’s a legally binding two party contract and most people don’t understand their credit card can be charged beyond its credit limit. Don’t believe me call them and ask. Always take the damage waiver from the rental company not from a third party like Allianz, who have been charged for fraud by a Manhattan judge criminally. Your welcome.

[MKillBill]

Declining rental insurance across the board is a bad idea. There are many exceptions not covered under typical car insurance including large SUVs, luxury vehicles, vans, etc. Also, credit cards have many exclusions, including trucks in some instances.

Loss of use is a very big thing to consider, as you mentioned. Every day the car sits in the shop getting repaired, you will get hit. Imagine an SUV sits in the shop for 2 weeks at $100/day. That's $1400 you pay out of pocket despite having your own insurance.

Is it really worth it to save, say, $100 in coverage costs vs 10x that in other fees? I say no. Purchase the coverage and the peace of mind that comes with it.

[sheasander]

Insurance Agency Owner here... it’s not that black and white. And not every person in this country is carrying “insurance agent” level of coverage. And I as an agent, always get it. Why cause I can’t control the claims process, it’s cheaper than my deductible, and the claim stays off my claims history- which can cause higher auto insurance rates for 3-6 years depending on the state and insurance company. Not to mention, if the car rental is for a business trip or business... personal auto insurance coverage does not transfer or cover business related rentals of any kind. Plus the administration fees charged due to a car rental accident, are rarely if ever covered by the car insurance. Let’s not forget... credit cards are limiting their coverage to secondary of the persons auto insurance and only up to certain dollar amount... with the exception of a few cards.

[ajfromca]

Wait, its not normal to drive 95MPH everywhere? Looks around in Alabama.

[chrisbarclay]

Worthless, he's assuming for some reason that we all have car insurance....??? I DON'T HAVE A THAT'S WHY I RENT. What he should be addressing is "Does your credit card cover this insurance problem" That's what many of us want to hear about

[masad.]

I own a car, and my vehicle is well covered. So, I've never bought insurance from a rental car company. My agent also told me about loss of use (my policy doesn't cover it). Is it possible to purchase that specific coverage, just loss of use, from a rental car company?

[nicolecato]

Man every one these days going 95mph on the high way lol

[survivortechharold]

Most of us do not have full coverage on our personal vehicle.