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Thursday, April 21, 2011

Do you really need to buy Rental Car insurance?

The Insurance Information Institute provided useful information in a recent article titled “Do I need separate rental car insurance?” Have you ever wondered if it is a waste of money to purchase the extra coverage as you are signing your rental car agreement?

In general, if you are using the rental vehicle for recreation and not business, the coverages and deductibles on your personal policy will apply. However, if you are not carrying comprehensive and collision coverage, you may have a large exposure in the event your rental vehicle is wrecked or stolen. Check with your Trusted Choice Agent (http://www.southgroupgulfcoast.com/ ) for a review of your specific policy BEFORE you rent a car.

Rental car companies usually offer a Loss Damage Waiver, which is not really insurance, but provides for “loss of use” costs if the rental vehicle requires repairs and is unable to be rented out by the company. You may also purchase higher liability limits if you do not have adequate limits on your personal policy. Medical and ambulance coverage may be offered for injuries to passengers of your vehicle during an accident, and you may be able to purchase extra coverage to protect personal items from theft, but this may be covered under your homeowners/renters policy.

To help you through the maze of coverages, carriers, premiums, and ways to save money on your insurance, if you are on the Gulf Coast, contact your Trusted Choice agent, SouthGroup-Gulf Coast http://http//www.southgroupgulfcoast.com  , Angelyn at SouthGroup Gulf Coast. You can reach us by email: atreutel@southgroup.net  , phone:228-466-4498, fax:888-415-8922, FaceBook www.facebook.com/southgroup.gulfcoast  , Twitter www.twitter.com/atreutel  !

We offer the following Lines of Coverage: Workers Compensation, Auto, Home, Life, Health, Disability, Motorcycle, Boat, Wind, Flood, Commercial Property, General Liability, Directors and Officers Liability, Bonds, Group and Individual Life/Health/Dental/Disability/Vision/Long Term Care, Business Owners, Builders Risk, Commercial Crime, Errors and Omissions, Dwelling Fire, Commercial Flood, Group Accident, Garage Dealers, Inland Marine, Law Enforcement Liability, Pollution Liability, Professional Liability, Personal Umbrella, Commercial Fire, Commercial Umbrella, Excess Flood, Identity Theft, more…