Rental Car Insurance
Rental car insurance in Singapore covers the rental vehicle in the event of a traffic accident. Usually, the vehicle rental company will purchase the rental car insurance before providing the vehicle for rental. As such a person renting a rental vehicle do not have to purchase an additional rental car insurance to cover the vehicle. However, it is good to know how the rental car insurance works as this information may be vital when an unforeseen car accident occur to your rental vehicle. In addition, when renting a vehicle overseas, the rental operator may request for you to purchase a rental car insurance policy; that’s when your rental car insurance knowledge comes into practice. Are you a rental vehicle operator or provider? Request for your rental car insurance quotes online today.
Rental Car Insurance Coverage
Most rental car insurance comes with 4 coverage options namely, collision damage waiver, liability coverage, personal accident insurance and personal effects coverage. Most car rental companies in Singapore may opt for the basic collision damage waiver coverage, without including the other benefits to lower the rental car insurance costs.
- Collision Damage Waiver – Covers the damage of the rental vehicle caused by a car accident.
- Liability Coverage – This provides you protection against any potential lawsuit resulting from the car accident.
- Personal Accident Insurance – Covers the medical expenses incurred from a car accident.
- Personal Effects Coverage – Covers items you may keep in the rental vehicle.
Rental Car Insurance Limitations
The rental car insurance comes with its limitations. Before renting a vehicle, it is essential to know the rental car insurance limitations set in the contract.
- Excess – Car rental companies may opt for a higher excess to reduce their overall rental car insurance premiums. Car rental operators may impose the excess to the person renting the vehicle if he damages the vehicle during his rental period.
- Area Of Cover – The rental car insurance may cover the rental car solely for use in Singapore. If you intend to use the vehicle overseas, you have to check with the rental car company if the rental car insurance that they purchase covers overseas usage.
Rental Car Insurance Summary
It is a life saver to know the terms stated in the rental car insurance before renting the vehicle. If the terms are not manageable, you can choose to avoid the risk by not renting the car. However, if it is a must to rent the automobile; drive it safely on the streets of Singapore.
Purchase A Rental Car Insurance
If you are a rental company or rental operator in Singapore looking for a rental car insurance to protect your vehicles. You can count on SingaporeCarInsurance.org as your number 1 choice in helping you with the entire rental car insurance purchase process.