Car Rental Insurance: Just Say No

Posted by: Karyn McCormack on January 17, 2006

I’d like to thank readers for their comments about my recent article “Insurance Plans You Can Avoid.” Over the long holiday weekend, I finally was able to catch the movie Meet The Fockers. I wasn’t crazy about the movie, but it did have a scene about another policy to avoid: car rental insurance.

When you’re renting a car, the agency will ask if you want insurance in case you get in an accident. “Many people don’t realize that your regular auto policy covers rentals,” says Mark Kenison, founder of firm Kenison Financial Services in Charlotte, NC. He says that if you get in an accident while driving the rental car, you’ll have to pay your deductible ($250-$500 and maybe an out of service fee).

Some rental agencies make it seem like you don’t have any coverage. Don’t fall for it. “I never buy that stuff,” Kenison says.

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Bloomberg Businessweek’s Ben Steverman focuses on the latest moves in financial markets and emerging trends in stocks, bonds, and funds, always with an eye toward giving readers a better understanding of the sometimes confusing and often chaotic world of money. Standard & Poor’s senior index analyst Howard Silverblatt will also provide his take on companies’ finances and the markets. Voted one of the “Top 100 Finance Blogs” in 2007.

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