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Miami Rental Car Insurance and Loss Damage Waiver

Miami car rentals companies will ask if you want to pay extra for car insurance. You do not have to buy this insurance, and usually you should not. Chances are you already do have a separate source of coverage, and maybe even more than one. Following are the different Insurances  Miami car rental companies offer and what you should know about each of them.

 



Collision Damage Waiver (CDW)

Some Miami car rental customers have the option of paying an additional charge of $9 to $13 a day for a "guarantee" (restrictions apply) that the rental company will pay for any damages to your rented vehicle. Many consumer protection organizations complain that CDW often provides coverage that you already have and has many loopholes. For example, bodily injuries or damage are usually not covered. Not accepting the CDW means you accept responsibility for any damages that may occur. Check all of the following in advance to see if you may already have insurance coverage for a Miami car rental:

 

  • your car insurance or homeowner's insurance policy
  • your employer’s insurance, if you are traveling on business
  • your credit cards -- many provide insurance for the rental car if you charge the rental to the card
  • your automobile club memberships


Personal Accident Insurance (PAI)

At a daily cost of $1.50 to $4, it pays a death benefit and a portion of your medical expenses if you are in an accident.

Personal Effects Coverage (PEC) or Personal Effects Protection (PEP)

At an average daily cost of $1.25, it safeguards your luggage against damage. Your homeowner's policy may cover this already.

Make photocopies of applicable policies or contracts and travel with them. Presenting these copies at the rental car counter should avoid any conflict or misinformation.
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