Updated on October 11, 2018 by David
Car Rental Insurance
Do you routinely decline the over-the-counter insurance when you rent a car? If you get in an accident and you haven't purchased the Collision Damage Waiver (CDW) at the rental counter, the company can charge you for the cost to repair the vehicle. It can also charge Loss of Use fees to recoup the potential revenue it forfeits while the car is in the shop being fixed instead of out on the road with another renter.
On the surface, that may sound reasonable. But in practice, these fees can add up to ridiculous sums. Worse, Loss of Use can become a quagmire because these fees are not always covered by personal auto insurance and credit card protection, so they can take renters by surprise. Here's what you need to know.