Albany, NY, residents and visitors who rent a vehicle while visiting the Empire State should ensure they have proper insurance coverage. While many personal car insurance policies cover a vehicle rental, gaps in coverage may cost tens of thousands of dollars if not adequately addressed.
How do you know if you need extra insurance for a vehicle rental?
Check your personal vehicle insurance policy carefully to make sure it covers vehicle rental. You’ll also want to look at your policy limits to ensure you have enough insurance if you are in an unfortunate incident. If, for instance, you rent a vehicle that costs a lot more than your personal vehicle, you may want to purchase additional coverage to provide compensation if the rental vehicle is stolen or vandalized. Alternatively, if you use your vehicle for personal reasons but intend to use a rental vehicle for commercial purposes, you’ll need to purchase commercial vehicle coverage for your rental.
It can also be a good idea to consider a collision damage waiver. This type of coverage is designed to cover incidents that aren’t covered by a typical personal insurance policy. Such incidents can include the cost of towing a vehicle, the cost of loss of vehicle use, and administrative costs. Moreover, having coverage separate from your regular car insurance policy can protect you from policy rate increases if you cause an accident while driving a rental vehicle.
Call Toedt Insurance Agency LLC for More Information
Toedt Insurance Agency LLC serves drivers in and around Albany, NY. We offer standalone policies and policy bundles to help you get the vehicle insurance you need at the best possible price. Contact us to learn more or get price quotes.
