Car Rental Insurance – What Is The Legal Minimum Required?
I currently have a US Drivers license, and a car, with insurance. I am about to sell my car, and will be cruising on my boat, returning to the USA several times a year, and when necessary will rent a car. BUT since I will not have auto insurance with my current car – what are the LEGAL minimum insurance options I need for a rental car – and is there any way to purchase that outside of the rental company? I don’t fancy paying $30 a day for insurance… But I don’t want to break the law of find problems in the event of an accident
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Rental companies are normally self insured for liability – what you buy from them is a physical damage waiver that keeps YOU from being held up for damages to the rental car.
There is SOME coverage on your major credit cards – so, keep that in mind as well!
Good luck and I hope this helps!
You should talk to your agent before dropping your insurance. I can’t see a way for you to crack this nut though. You can purchase what is called a “named non-owner” policy but it would only cover you for BI/PD and first party benefits. The rental company will want you to have coverage for damage to their vehicle which I don’t believe is offered on a “non-owner” policy. You just might need to purchase the rental company’s insurance to protect yourself.