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Rental Car Coverage and Loss of Use

Rental Car coverage on your Auto Insurance Policy allows you to recover a predetermined amount in dollars for rental reimbursement per day. Most all Insurance Companies offer this coverage however the rate can vary a great deal and so can the coverage. Rental Coverage per day ranges from $20 to $100+. Though it sort of seems like the $100+ per day for a rental car might be a little excessive! Might come in handy if you are self employed like a Real Estate Agent. Some occupations require a specific type of vehicle to project a certain image. Though keep in mind if that Agent were to transport clients a whole new range of liability exposure opens up and they would be better served with a Business Auto Policy instead of a Personal Auto.

Loss of Use is somewhat rare on an Auto policy however it does still exist. Just like the Homeowners Policy covers Loss of Use if the home were to become inhabitable for a period of time. An automobile can easily become unavailable due to a crash or theft. Loss of Use on the Auto Policy pays an amount to the insured at a pre-determined rate. Either daily rated pro-rata or a lump sum.

GetCoveredUSA.com Insurance Tip: For this coverage to be triggered. Your insured auto must be involved in a "Covered Loss". Which means that something that is claimable must occur to cause your car to no longer work or be available to you. For example if you were to just have engine problems and the car broke down, this wouldnt be a claimable loss. An auto insurance policy is not a warranty!