Should I Buy the Rental Car Loss Damage Waiver in My Car Insurance Policy?

RENTAL CAR LOSS DAMAGE WAIVER – WHY YOU SHOULD BUY IT 

1. You avoid a claim on your policy which can follow you for 3-5 years for rating purposes.
2. A standard personal auto policy does not include language to pay for diminished value charged by the rental company. This is money the rental company can charge you for their determination of diminution in value to the vehicle you have rented and damaged.
3. A standard personal auto policy does not include language to pay for the loss of use charged by the rental company. This is money the rental company can charge you for the daily loss of rental income on the vehicle you damaged while it is being fixed in the shop.
4. A standard personal auto policy does not include language to pay for administrative fees charged by the rental company for damage to the vehicle.
5. If you rent your vehicle with a major credit card, sometimes there is a “perk” from that card that might pay for the physical damage and loss of use to a rental vehicle. However, there is still the pesky issue of diminished value and administrative fees.