Wondering if it’s worth it to pay the extra fee for rental car insurance? With warmer weather in the not too distant future stateside, and plenty of warm weather year round on Grand Cayman, it’s a good time to consider planning a road trip. The question of rental car insurance will always come up, and the frugal part of you will always want to say no. So, when is it ok to say “yes” and when should you pass on the peace of mind?
Most people have car insurance, but they may not specifically have collision protection for rental cars in Grand Cayman. This protects you from accidents involving not just other cars, but other objects (like poles and walls) too. Collision coverage saves you significant money with out of pocket costs. There is also the standard sales pitch that your collision coverage may not be enough to cover specific damages, which may not be wrong. The fact is that many of us buy the bare minimum in terms of coverage thinking that we are safe drivers and we will save money this way. If you need the extra coverage, the nominal fee may be worth it to you.
What Your Insurance May Cover
Your insurance may cover rentals if and only if it’s related to an accident, like a loner car so you can get to work while your repair is performed. This coverage typically applies only to the main policy holder, so your spouse may not have the same coverage that you do. You may also have some coverage through credit cards, but they may require you to pay the full amount before you qualify for the coverage discount. The insurance you have also may not cover fees associated with a car rental on Cayman Island. For instance, administrative fees or charges for days the vehicle was unable to be rented may be unable to recoup.
In the end, car insurance with a rental agency is often just a few dollars beyond the bill that you are already paying, and it covers you for most hazards you’ll come across in your stay. Some people may find it worth the costs to assume this additional level of protection, which provides peace of mind and better coverage in the event that the worst occurs.
Before you leave on your trip, contact your insurance company and your credit card. They may have some benefits for you that are not aware of, but be sure you read the fine print.
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Andys Rent-A-Car offers visitors a Cayman Islands car for hire to be used on vacation or business. Andy’s Rent-A-Car is conveniently located near the airport, making pickup and drop off simple.