One of the more unenjoyable tasks in planning a vacation is choosing the rental car. There are multiple companies to choose from and they all have their own fine print. The toughest part is figuring out the final price. Most companies won’t show you the final total until you’ve made it to the last step of booking. No one wants to do that over and over just for rental car comparisons. And what about all of those acronyms? CDW, LDW, TP and more? We have an easy breakdown of everything you need to know to make rental car comparisons easy.
Optional Add-Ons
Loss Damage Waiver (LDW)
LDW is optional damage insurance coverage. It waives your financial responsibility for loss/theft or damage to the rental car. It does not cover damage to another vehicle or protect against costs due to injuries.
Collision Damage Waiver (CDW)
CDW is not LDW. It will only help protect you from excessive costs if the car suffers accidental damage. For example, if a driver can be held responsible for $750 and the car suffers $1000 in damage you wouldn’t have to pay more than $750. Like LDW, this does not cover damage to another car or cover against injuries sustained in an accident. Unlike LDW this does not include theft protection.
Theft Protection (TP)
This protects you in case the rental car is stolen. You will be liable for no more than the stated excess amount.
Third-Party Liability Protection (TPLP)
If you are in an accident, TPLP covers damage for other cars or property including injuries. There will be a maximum limit that you should be aware of before you decide to purchase this option.
Personal Accident Insurance (PAI)
This option will provide coverage for you and your passengers for medical expenses and accidental death due to an accident sustained in the rental car.
Liability Insurance Supplement (LIS)
This increases the maximum limits oF TPLP. It protects you against property-damage claims and third-party bodily injury.
Know Before You Go
Check with your own car insurance to see what coverage you already have for rental cars. You may find that LDW, CDW, PAI, and more are redundant to your current policy. If you’ve purchased travel insurance you’ll want to check that policy as well. Some include coverage for rental cars. If you know what type of protections you already have, it’ll be even easier to make your rental car comparisons.
Questions to Ask
- Where do you pick up and drop off the vehicle? Some airports have rental car companies right onsite others require a shuttle ride at least.
- What is the cancellation policy? Each rental car company has a different cancellation policy. If you need flexibility in your travel plans, pick a company that allows you to cancel the closest to your travel date without penalty.
- How are tolls paid? Do they have a transponder in the car? Do you have to elect to use it before you sign for the car? What do they charge if you pay by plate? These are all questions you need to know to avoid hefty fees.
- Is there a loyalty program? If you are booking a rental car and the company has a loyalty program sign up for it before you book. Not only will you begin to qualify for rewards you may be lucky enough to get a free vehicle class upgrade.
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