How important is rental car coverage on my Arkansas insurance policy?
Should I accept rental car coverage on my car insurance policy in Arkansas? Here at Cheapest Auto insurance we get asked this question all the time. We cannot tell you yes or no to this question when we are quoting your auto insurance. But we can tell you the facts of rental car coverage and help you make a wise decision for your auto insurance budget.
Lets start out with the definition of rental car coverage on your Arkansas auto insurance policy. Rental car coverage is a coverage on your auto insurance policy that covers you on a financial reimbursement basis when your car is in a collision or comprehensive accident. Rental car coverage is usually offered in the following increments: $20 a day for 20 consecutive days, $30 a day for 30 consecutive days, $40 a day for 40 consecutive days or $50 a day for 50 consecutive days. The most popular choices for our Arkansas customers is the $40 for 40 consecutive day option. We all know how much the cost of renting a car has risen over the past ten years. Ten years ago we could rent a car for $20 a day no problem, now that wont even get you close.
The most common misconception about rental car coverage on an Arkansas car insurance policy is that it is supposed to cover you in mechanical breakdown situation, for instance my transmission blew so I’m going to turn it in on my insurance and get a free rental car. That is not the case, rental car coverage on your auto insurance policy only kicks in when the incident that happened is a covered peril on your auto policy and this is a very common misconception. The most common instance when you will need your rental car coverage to kick in on your personal auto policy is a collision with another vehicle making your car inoperable to drive and it is nice when you get reimbursed financially in this situation. We all know how difficult it is to be without a vehicle and more and more households each driver only has one car to drive to and from work.
The next obvious question is how much does rental reimbursement on my Arkansas auto policy actually cost me as a consumer? It is actually very inexpensive. Most companies that Cheapest Auto Insurance writes through only charges about $8 to $10 on a monthly basis. Which is really pretty small in the overall picture when you compare it to the costs of not having transportation to and from work or the very high rental car rates that most rental car companies charge nowadays.
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