When you need to rent a car, one of the most important things to do is make sure you have insurance. In the event of a theft or an accident in which the vehicle is written off, you must cover the excess value of the vehicle. This can amount to several thousands of dollars that will be added to your rental bill!
Some credit card companies offer special plans when you use their cards to pay for rental vehicles. One of these plans is the Damage Waiver Benefit, and it provides extra coverage for your rental vehicle. The Damage Waiver Benefit is designed specifically to aid you in the event of theft or an accident involving your rental car. The cost of the coverage is waived for all cardholders provided they meet a general set of conditions. This excess coverage means that youre insured in the event that your rental vehicle is stolen or the car is in a bad accident. This may also cover the public liability portion of the accident and insurance as well. The coverage is for the policyholder who is usually also the renter and driver of the car. These optional waivers can be purchased to reduce or eliminate any financial exposure you may encounter, including the entire value of...
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