Auto Insurance Calculator

Reader’s Question:

I will be renting a vehicle for my trip here in Georgia for about a month or so, should I still get auto insurance for it?

Peter

Sandy Springs, GA

You should definitely consider getting a Non-owners Auto Insurance policy (if you don’t have a vehicle of your own) or look for alternative forms of auto insurance that you may already have (such as those given by many credit card companies if you use their card to rent a vehicle) before deciding to go with a rental car insurance. Not that there is anything wrong with rental car insurance, in fact the one there in Georgia would work just as well, but bust out your calculator and you’ll notice they cost a lot too, especially on top of the daily rental charge you are already paying for the vehicle. If you plan to pay the rental out of your own pocket, then consider the following:

Most rental auto insurance costs anywhere from $10 up to $20 a day, whereas a non-owners policy would set you back more or less around $50 a month. Since you are planning to rent for about a month and possibly even longer, its not too hard to see how this will one will go on your finances.

Also call your credit card provider, inquire about towing or accident auto insurance coverage options that you, as a card holder, may be entitled for. Most people don’t realize this and end up paying for redundant coverage. It would also benefit people who decide to get a car in the future, since those who has never had auto insurance would likely be charged higher premiums then those who have had at least a minimal form of auto insurance coverage.

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