GEICO Rental Car: Coverage Options and How to Get It
If you're renting a car, you'll need to make sure you have the right insurance coverage. GEICO offers a variety of rental car insurance options that can protect you in case of an accident or theft.
GEICO's rental car insurance coverage options include:
In this article, we'll discuss GEICO's rental car insurance coverage options in more detail and help you decide which option is right for you.
geico rental car
Affordable coverage options
- Collision Damage Waiver
- Loss Damage Waiver
- Liability Protection
- Personal Effects Coverage
- Emergency Roadside Assistance
- Towing and Labor Coverage
- Rental Car Reimbursement
- Diminished Value Coverage
- Gap Coverage
- Legal Defense Coverage
Protect yourself on the road
Collision Damage Waiver
Collision Damage Waiver (CDW) is an optional insurance coverage that can be purchased when renting a car. It waives your financial responsibility for damage to the rental car in the event of a collision, regardless of who is at fault.
CDW typically covers damage to the rental car's body, interior, and mechanical components. However, it does not cover damage to the car's tires, windows, or undercarriage. It also does not cover personal belongings or injuries sustained in an accident.
The cost of CDW varies depending on the rental car company and the type of car you are renting. It is typically charged on a daily basis.
Whether or not you need CDW depends on your personal risk tolerance and your financial situation. If you are comfortable paying for damages out of pocket in the event of an accident, you may not need CDW. However, if you are worried about the cost of repairs, or if you have a high deductible on your own car insurance policy, CDW may be a good option for you.
Here are some things to keep in mind about CDW:
- CDW is not required by law, but it is highly recommended.
- The cost of CDW can vary significantly from one rental car company to another.
- CDW does not cover all types of damage to the rental car.
- You may be able to purchase CDW through your own car insurance policy.
Loss Damage Waiver
Loss Damage Waiver (LDW) is an optional insurance coverage that can be purchased when renting a car. It waives your financial responsibility for damage to or theft of the rental car, regardless of who is at fault.
LDW typically covers damage to the rental car's body, interior, and mechanical components. It also covers the cost of replacing the rental car if it is stolen. However, it does not cover damage to the car's tires, windows, or undercarriage. It also does not cover personal belongings or injuries sustained in an accident.
The cost of LDW varies depending on the rental car company and the type of car you are renting. It is typically charged on a daily basis.
Whether or not you need LDW depends on your personal risk tolerance and your financial situation. If you are comfortable paying for damages or theft out of pocket, you may not need LDW. However, if you are worried about the cost of repairs or replacement, or if you have a high deductible on your own car insurance policy, LDW may be a good option for you.
Here are some things to keep in mind about LDW:
- LDW is not required by law, but it is highly recommended.
- The cost of LDW can vary significantly from one rental car company to another.
- LDW does not cover all types of damage or theft to the rental car.
- You may be able to purchase LDW through your own car insurance policy.
Liability Protection
Liability Protection is an optional insurance coverage that can be purchased when renting a car. It protects you from financial responsibility for injuries or damages caused to others or their property while you are driving the rental car.
Liability Protection typically covers the following:
- Bodily injury to others
- Property damage to others' vehicles or property
- Legal defense costs if you are sued as a result of an accident
The amount of Liability Protection coverage you need will vary depending on your personal risk tolerance and the laws in the state where you will be driving. In most states, the minimum amount of Liability Protection required by law is $25,000/$50,000/$25,000. This means that you are covered for up to $25,000 for bodily injury to one person, $50,000 for bodily injury to all persons in one accident, and $25,000 for property damage.
You can purchase additional Liability Protection coverage if you want to increase your limits. This is a good idea if you are planning on driving in a state with higher liability limits or if you have a high net worth.
Here are some things to keep in mind about Liability Protection:
- Liability Protection is required by law in most states.
- The minimum amount of Liability Protection required by law varies from state to state.
- You can purchase additional Liability Protection coverage if you want to increase your limits.
- Liability Protection does not cover damage to the rental car.
Personal Effects Coverage
Personal Effects Coverage is an optional insurance coverage that can be purchased when renting a car. It protects your personal belongings from theft or damage while they are in the rental car.
Personal Effects Coverage typically covers the following:
- Clothing
- Electronics
- Jewelry
- Luggage
- Sporting equipment
The amount of Personal Effects Coverage you need will vary depending on the value of your belongings and your personal risk tolerance. Most policies have a limit of $1,000-$2,000, but you can purchase additional coverage if you need it.
Personal Effects Coverage is a good idea if you are planning on traveling with valuable belongings or if you are renting a car in an area with a high crime rate.
Here are some things to keep in mind about Personal Effects Coverage:
- Personal Effects Coverage is not required by law.
- The cost of Personal Effects Coverage varies depending on the rental car company and the value of your belongings.
- Personal Effects Coverage does not cover damage to the rental car.
- You may be able to purchase Personal Effects Coverage through your own home insurance policy.
Emergency Roadside Assistance
Emergency Roadside Assistance is an optional insurance coverage that can be purchased when renting a car. It provides you with assistance in the event of a breakdown or other emergency.
- Towing
If your rental car breaks down, Emergency Roadside Assistance will tow it to the nearest repair shop.
- Battery jump-start
If your rental car's battery dies, Emergency Roadside Assistance will jump-start it for you.
- Flat tire change
If you get a flat tire, Emergency Roadside Assistance will change it for you.
- Fuel delivery
If you run out of gas, Emergency Roadside Assistance will deliver fuel to you.
Emergency Roadside Assistance is a good idea if you are planning on driving in a remote area or if you are not familiar with the area where you will be driving. It can also be helpful if you have a history of car problems.
Towing and Labor Coverage
Towing and Labor Coverage is an optional insurance coverage that can be purchased when renting a car. It covers the cost of towing your rental car to the nearest repair shop if it breaks down.
- Towing
Towing and Labor Coverage will pay for the cost of towing your rental car to the nearest repair shop if it breaks down.
- Labor
Towing and Labor Coverage will also pay for the cost of labor to repair your rental car if it breaks down.
- Roadside assistance
Towing and Labor Coverage typically also includes roadside assistance, which can help you with things like flat tires, dead batteries, and lost keys.
- Rental car reimbursement
Some Towing and Labor Coverage policies also include rental car reimbursement, which can help you pay for the cost of a rental car while your rental car is being repaired.
Towing and Labor Coverage is a good idea if you are planning on driving in a remote area or if you are not familiar with the area where you will be driving. It can also be helpful if you have a history of car problems.
Rental Car Reimbursement
Rental Car Reimbursement is an optional insurance coverage that can be purchased when renting a car. It reimburses you for the cost of renting a car if your rental car is damaged or stolen.
Rental Car Reimbursement typically covers the following:
- The cost of renting a car of similar size and type to your rental car
- Taxes and fees associated with the rental car
- Mileage charges
The amount of Rental Car Reimbursement coverage you need will vary depending on the length of your trip and your personal risk tolerance. Most policies have a limit of $500-$1,000 per day, but you can purchase additional coverage if you need it.
Rental Car Reimbursement is a good idea if you are planning on renting a car for an extended period of time or if you are traveling to a remote area. It can also be helpful if you have a history of car problems.
Here are some things to keep in mind about Rental Car Reimbursement:
- Rental Car Reimbursement is not required by law.
- The cost of Rental Car Reimbursement varies depending on the rental car company and the length of your trip.
- Rental Car Reimbursement does not cover the cost of your rental car if it is damaged or stolen due to your own negligence.
- You may be able to purchase Rental Car Reimbursement through your own car insurance policy.
Diminished Value Coverage
Diminished Value Coverage is an optional insurance coverage that can be purchased when renting a car. It covers the difference between the actual cash value of your rental car before it was damaged and its actual cash value after it was damaged.
Diminished Value Coverage typically covers the following:
- Damage to the rental car that is not covered by Collision Damage Waiver or Loss Damage Waiver
- Mechanical problems with the rental car that are not covered by the rental car company's warranty
- Diminished value of the rental car due to an accident or other incident
The amount of Diminished Value Coverage you need will vary depending on the value of your rental car and your personal risk tolerance. Most policies have a limit of $500-$1,000, but you can purchase additional coverage if you need it.
Diminished Value Coverage is a good idea if you are planning on renting a car for an extended period of time or if you are traveling to a remote area. It can also be helpful if you have a history of car problems.
Here are some things to keep in mind about Diminished Value Coverage:
- Diminished Value Coverage is not required by law.
- The cost of Diminished Value Coverage varies depending on the rental car company and the value of your rental car.
- Diminished Value Coverage does not cover the cost of repairing or replacing your rental car.
- You may be able to purchase Diminished Value Coverage through your own car insurance policy.
Gap Coverage
Gap Coverage is an optional insurance coverage that can be purchased when renting a car. It covers the difference between the actual cash value of your rental car and the amount you owe on your rental car contract.
- Protects you from financial loss
If your rental car is totaled or stolen, Gap Coverage will pay the difference between the actual cash value of the car and the amount you owe on your rental car contract. This can help you avoid being stuck with a large bill.
- Is relatively inexpensive
Gap Coverage typically costs around $10-$20 per day. This is a small price to pay for the peace of mind that comes with knowing you are protected in case of an accident or theft.
- May be required by your rental car company
Some rental car companies require you to purchase Gap Coverage if you are renting a car for more than a certain number of days or if you are renting a luxury car.
- Can be purchased through your own car insurance policy
In some cases, you may be able to purchase Gap Coverage through your own car insurance policy. This is typically less expensive than purchasing Gap Coverage from the rental car company.
Gap Coverage is a good idea if you are planning on renting a car for an extended period of time or if you are renting a luxury car. It can also be helpful if you have a history of car problems.
Legal Defense Coverage
Legal Defense Coverage is an optional insurance coverage that can be purchased when renting a car. It covers the cost of your legal defense if you are sued as a result of an accident while driving the rental car.
Legal Defense Coverage typically covers the following:
- Attorney fees
- Court costs
- Expert witness fees
- Other expenses associated with your legal defense
The amount of Legal Defense Coverage you need will vary depending on your personal risk tolerance. Most policies have a limit of $100,000-$250,000, but you can purchase additional coverage if you need it.
Legal Defense Coverage is a good idea if you are planning on driving in a state with strict liability laws. It can also be helpful if you have a history of accidents or traffic violations.
Here are some things to keep in mind about Legal Defense Coverage:
- Legal Defense Coverage is not required by law.
- The cost of Legal Defense Coverage varies depending on the rental car company and the amount of coverage you need.
- Legal Defense Coverage does not cover the cost of any damages or injuries that you cause while driving the rental car.
- You may be able to purchase Legal Defense Coverage through your own car insurance policy.
FAQ
Here are some frequently asked questions about insurance for rental cars:
Question 1: What is the purpose of rental car insurance?
Answer 1: Rental car insurance provides coverage for damages or injuries caused to the rental car or others while you are driving the rental car.
Question 2: What types of insurance coverage are available for rental cars?
Answer 2: Common types of insurance coverage for rental cars include Collision Damage Waiver (CDW), Loss Damage Waiver (LDW), Liability Protection, Personal Effects Coverage, Emergency Roadside Assistance, Towing and Labor Coverage, Rental Car Reimbursement, Diminished Value Coverage, and Legal Defense Coverage.
Question 3: Is rental car insurance required by law?
Answer 3: Rental car insurance is not required by law, but it is highly recommended. If you do not purchase rental car insurance, you will be responsible for any damages or injuries caused to the rental car or others while you are driving the rental car.
Question 4: How much does rental car insurance cost?
Answer 4: The cost of rental car insurance varies depending on the type of coverage you choose, the length of your rental, and the rental car company. Typically, the cost of rental car insurance is around $10-$30 per day.
Question 5: Can I use my own car insurance to cover my rental car?
Answer 5: In some cases, you may be able to use your own car insurance to cover your rental car. However, you should check with your insurance company to confirm your coverage before you rent a car.
Question 6: What should I do if I am in an accident while driving a rental car?
Answer 6: If you are in an accident while driving a rental car, you should immediately contact the rental car company and your insurance company. You should also file a police report if there is any property damage or injuries.
Question 7: What should I do if my rental car is stolen?
Answer 7: If your rental car is stolen, you should immediately contact the rental car company and the police. You should also file a claim with your insurance company.
Closing Paragraph for FAQ:
These are just a few of the most frequently asked questions about rental car insurance. If you have any other questions, you should contact your insurance company or the rental car company.
Now that you know more about rental car insurance, here are a few tips for choosing the right coverage for your needs:
Tips
Here are a few tips for choosing the right rental car insurance coverage for your needs:
Tip 1: Consider your risk tolerance.
Think about how comfortable you are with the risk of paying for damages or injuries out of pocket. If you are not comfortable with this risk, you should purchase more comprehensive insurance coverage.
Tip 2: Consider the type of driving you will be doing.
If you will be driving in a busy urban area or in bad weather, you may want to purchase more comprehensive insurance coverage. If you will be driving in a rural area or in good weather, you may be able to get away with less coverage.
Tip 3: Consider the value of the rental car.
If you are renting a luxury car or a specialty car, you should purchase more comprehensive insurance coverage. If you are renting a basic economy car, you may be able to get away with less coverage.
Tip 4: Shop around for the best deal.
Compare prices from different rental car companies and insurance companies before you purchase coverage. You may be able to save money by shopping around.
Tip 5: Read the terms and conditions of the insurance policy carefully.
Make sure you understand what is covered and what is not covered by the insurance policy before you purchase it.
Closing Paragraph for Tips:
By following these tips, you can choose the right rental car insurance coverage for your needs and budget.
Now that you know more about rental car insurance and how to choose the right coverage, you can rent a car with confidence.
Conclusion
Rental car insurance can be a valuable investment, especially if you are planning on driving in a busy urban area, in bad weather, or if you are renting a luxury car. By purchasing rental car insurance, you can protect yourself from the financial responsibility of damages or injuries caused to the rental car or others while you are driving the rental car.
When choosing rental car insurance, it is important to consider your risk tolerance, the type of driving you will be doing, the value of the rental car, and the cost of the insurance. You should also read the terms and conditions of the insurance policy carefully before you purchase it.
By following these tips, you can choose the right rental car insurance coverage for your needs and budget. Then, you can rent a car with confidence, knowing that you are protected in case of an accident or theft.
Closing Message:
Don't let the fear of unexpected expenses ruin your rental car experience. Get the right insurance coverage and drive with peace of mind.
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