PROVIDENCE, R.I. (WPRI) – When renting a car, customers often pay up to 40 extra dollars a day simply because they’re not sure if they’re covered elsewhere.
But if you already have collision insurance from your personal auto insurance you don’t need to buy additional insurance from the rental company
Opting for the additional coverage could be worth the price if you don’t have collision insurance. But if you’re charging the rental to your credit card, it’s also possible to get the insurance through them.
“American Express, Visa, Mastercard and Discover all offer some sort of rental car coverage. You should check with them before you go on your trip but it may be far cheaper than buying that supplemental coverage,” explains Jill Schlesinger, a CBS News Business Analyst.
Different credit cards offer different levels of coverage and different limitations. More exotic cars and off-road vehicles may be excluded, so be sure to read the fine print before you hit the road.
For more information, and testimony from the experts, click play on the video above to watch Problem Solver Susan Hogan’s entire segment.