Deciding on car rental insurance is a major decision you shouldn't take lightly. Anyone who's rented a car has gotten the question, "do you want the insurance?" The answer, surprisingly, is not a cut and dried yes or no.
Your regular personal auto insurance policy will, in all likelihood, pay claims for covered accidents that occur while you're driving a rental car. Many people are at best confused about this, or are completely unaware that their personal coverage will handle most claims. Of course, your claim will be subject to your deductible. Sometimes, the credit card you use will offer protection as well (additionally, your credit card may offer discounts on car rental insurance as well).
Some personal auto policies won't cover rentals while on business trips and may have limits on long-term rentals. Personal polices may or may not cover foreign countries.
No matter what the case, you should call both your insurance company or agent and your credit card issuer to see what the exact benefits are.
The last thing you want is to feel pressured into buying car rental insurance. There are a variety of types available: loss damage waivers, supplemental liability insurance, personal accident insurance, personal effects insurance and more. The cost of the insurance depends on the type of car you rent and how long you'll rent the car. But it can add up quickly since most times it's charged on a daily basis.
One advantage to buying the coverage is that it will spare you the trouble of filing a claim with your insurance company should an accident occur.
Ultimately, opinions on whether or not to buy car rental insurance are divided. Some buy it solely for peace of mind, knowing they don't need it. Others buy it out of ignorance, not knowing their personal coverage will take care of the claim. Those who don't buy it often call it a waste of money.