Rental truck insurance is one of the essential considerations when someone plans to move and hire a rental truck. In very rare cases, this insurance is not needed in this situation if your insurance policy includes your rental trucks under your protection. However, major car insurance companies do not cover rental trucks. For those reasons, insurance for rental trucks is needed.
The first thing you have to clarify is to ask this. If you are not covered, your rental truck company will offer you this insurance. To see how you are protected and what types of insurance coverage for rental trucks are available for us, this article will tell you more.
What it Cover?
While transporting your items and belongings, your rental trucks are exposed in risk. Mainly, accident is the most possible thing that happens to your trucks. When it happens, who will be responsible for the bodily injury of the drivers and passengers, and property damage that occur due to the accident?
When your insurance company does not cover this, you have to turn to the rental company. Rental trucks company typically offer rental truck insurance to protect the trucks from this kind of situation.
At the same time, you transported belongings will also be protected against theft as well. In the end, you have a peace of mind waiting your belongings arrive at the destination.
What are the Available Protection Plans?
When you find that you are not covered by your insurance policy, your rental truck company provides you several types of coverage to protect the trucks. It is called as protection plans that are divided into several types: basic and supplemental.
Basic protection plans consist of liability insurance and physical damage insurance. Just like car insurance, this rental truck insurance coverage protects your rental trucks against occurring claims of physical injury and property damage incurred by the third party involved in the accident. Its limit goes up to $1 million. The detail of the coverage needs to be understood for exclusions.
Rental truck companies also offer you Physical Damage Insurance. It protects you against the damage or loss of the rental trucks. Limited Damage Insurance may be offered.
Basically, both of them are just the same, but the latter requires being responsible for the first $500 of damage or loss. The first requires having no financial responsibility.
You will find that each rental truck company has different types of rental truck insurance coverage. However, most of them classify the coverage based on the basic and supplementary.
To give you additional protection, supplemental coverage needs to be considered as well. If the basic protects only the rental trucks, your belongings get protection under supplemental coverage.
First, damage waivers give you a peace of mind since your items are under protection against loss or theft, and the rental trucks are included as well.
Similarly, it has two types: personal damage waiver (where you are liable for the first $500 for damage or loss), and limited damage waiver (where you have no liability at all). This kind of rental truck insurance coverage is aimed at increasing protection towards your belongings.
Tips for Purchasing
Again, it has to be emphasized that not all insurance companies provide insurance for rental trucks. So, it is a lot simpler to ask your rental car company to purchase it.
When choosing the types of coverage, you have to suit it to your personal need. Some companies provide you different prices: daily or weekly. You just need to figure out how long the trucks transport your belongings to decide it.
There is some exclusion as well. You had better read carefully the detail of the coverage to make sure that you are quite informed. This will help you to make the most of rental truck insurance.