Are you planning your next adventure with Centennial Car & Truck Rentals?
While you’re probably focused on exciting destinations and scenic routes, it’s important to consider rental car insurance. It may not be the most thrilling topic, but understanding your coverage can save you money and hassle.
Is Rental Car Insurance Mandatory?
Purchasing additional insurance from a rental car company isn’t mandatory in Canada. However, you need adequate coverage to protect yourself in an accident. Third-party liability is legally required to operate a vehicle, and while this basic coverage is often included in your rental, it’s always wise to double-check.
Car Rental Insurance Basics: You Might Already Be Covered
The good news is that you might already have rental car insurance through one or more of the following:
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Your Car Insurance: Many Ontario auto policies offer an “add-on” called “Legal Liability for Damage to Non-Owned Automobiles” (OPCF 27). This covers damage to rental vehicles in Canada and the US. Check your policy or contact your insurer broker to see if you have this coverage.
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Your Credit Card: Some credit cards provide collision damage coverage for rental cars. You must usually charge the entire rental on that card to qualify and decline the rental company’s collision damage waiver.
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Your Travel Insurance: Certain travel insurance packages include rental car insurance as an option. Review your policy details or contact your provider to confirm your coverage.
Car Rental Insurance Options: What They Cover
If you need additional coverage, rental companies typically offer:
- Loss Damage Waiver (LDW) / Collision Damage Waiver (CDW): Covers damage to the rental car itself (like fire, theft, or accidents).
- Liability Coverage (LI): Covers damage and injury you cause to others and their property while driving the rental car.
How to Save Money on Car Rental Insurance
- Book in Advance: Avoid last-minute airport rentals, which are often more expensive.
- Choose Economy Cars: Smaller cars are usually cheaper to rent.
Talk to your insurance broker before your next rental!
Understanding your existing coverage can save you from purchasing unnecessary insurance. We’re happy to help you review your options and ensure you’re protected on your next adventure with Centennial Car & Truck Rentals.
