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A lot of drivers are on the fence about whether or not to add-on car rental insurance to the cost of their vehicle — but we’re not.
The way we see it: if you rent a car, you need rental car insurance. Why? Because without the right car rental insurance, you could be on the hook for claims totalling $10 million or more, and we want to protect you from that.
Keep reading to learn why car rental insurance is 100% necessary and 200% worth it!
Driving an unfamiliar vehicle in a strange place makes a collision more likely. And, without the right insurance, you’re personally responsible for damage to the vehicle you rent– even if you’re not at fault!
Even a seemingly minor collision puts you at risk for having major claims filed against you from the rental company. Claims can also be filed against you for things like damage to others’ property, and damages for injuries. Most rental companies also charge “down-time” to compensate them for the time the vehicle is off the road being fixed or replaced. All of these costs add up fast!
When you start shopping for Rental Car Insurance, you’ll want to look for a policy that:
We recommend buying your car rental insurance through Manitoba Public Insurance (MPI). Their Rental Vehicle Insurance offers everything we’ve listed above giving you more extensive coverage than the other options out there. And, it comes in at a substantially lower cost, saving you up to $25 a day!
You might! But if you do, odds are it’s not enough.
As a Manitoba Citizen, if you’re hurt in a collision while driving a rental vehicle, you’re covered under MPI’s Personal Injury Protection Plan. This coverage can help a lot with your healing and recovery if you’re hurt, but it won’t help when it comes to third-party liability and claims from the rental company.
Your standard credit card coverage only covers first-party liability unless you’ve specifically chosen a higher coverage option (think: $1, $2, $5, $7 or $10 million). It doesn’t protect you against claims from the rental company, and it won’t protect you fully from claims from other drivers if you travel in the United States.
Your car rental company might give you the option to add-on insurance, but it’s often sub-par.
A lot of people decide at the last minute to add-on insurance through their rental company, without realizing that they’re paying a premium for the convenience! Rental company insurance usually costs a lot more than MPI’s insurance, and it’s rarely as comprehensive.
● Higher cost
● Lower coverage
Most credit cards automatically provide coverage, but it’s usually only first-party liability coverage. This makes it less comprehensive than the Rental Vehicle Insurance you can get through MPI.
If you choose to go with your credit card’s rental car insurance, you can expect:
● Automatically Provided
● Less comprehensive coverage
● Conditions and restrictions
Through your insurance broker, you have access to MPI’s Rental Vehicle Coverage, which is by far and away the best insurance option! It covers rented or borrowed private passenger vehicles, light trucks, motorcycles and mopeds, and it extends to both Canada and the United States.
When you buy MPI’s rental vehicle coverage through us, you get:
And, you’ll pay a lot less than you would if you went through your rental vehicle company!
● Most extensive coverage
● Best price
● We can’t think of any!
Purchase this option at any Winnipeg Insurance Brokers Ltd. branch.