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Do I Need To Have Rental Car Insurance in Alaska?

Reader’s Question:

I have rental car coverage from my auto insurance but I really don’t know its restrictions. Would it still make sense if I buy some kind of waivers from a rental car company to replace my insurance coverage?

Mackenzie

Anchorage, AK

Seeming sensible from the coverage you receive from your auto insurance and the waivers that are sold by rental vehicle companies is not simple. Purchasing all of the coverage available from a rental vehicle company could amplify your rental fees. Purchasing nothing may place you in an awful financial situation in case of an accident.

In case you do not have comprehensive and collision coverage and you rent a vehicle, it would be a great plan to buy the loss damage waivers or collision damage waivers, any of which the rental vehicle company sells. Purchasing the waiver that will give you the widest coverage may be a good idea. Rental vehicle companies have a number of stages of damage waivers. For instance: you may not be liable for any damage; you are liable for damage over $500; you are liable for damage over $1,000.

You may completely turn down loss damage waivers in case you have comprehensive and collision insurance since you will pay for “double coverage.” However, keep in mind that you need to pay your deductible if the vehicle is stolen, damaged or if you crash the car.