As summer comes to an end, many people are facing big changes in their lives. Whether it’s moving to a new home, starting college, or relocating for a job, the demand for rental trucks is high. With so many people looking to rent, securing a truck is becoming increasingly competitive.
One important consideration when renting a truck is insurance. Many renters wonder if they need to buy the insurance offered by the rental company. In most cases, the answer is yes.
Even if you have full coverage on your personal auto insurance, it often does not cover rental trucks, especially those over 10,000 pounds. Most rental moving trucks are larger than that. This means if an accident occurs, you could be responsible for costly repairs or any downtime if the truck is damaged.
Rental companies provide various insurance options to help protect you. While these plans can increase your rental costs, many find the peace of mind they offer to be worth it. Here’s a quick look at the common types of coverage:
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Damage Waiver: This covers accidental damage to the rental truck. Without it, you would be liable for any damage, regardless of fault.
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Cargo Coverage: This protects your belongings inside the truck from damage due to accidents, fire, or other incidents. However, it may not cover issues like improper packing.
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Personal Accident Insurance: This offers limited medical coverage for injuries you might sustain while using the truck.
- Supplemental Liability Coverage: This provides protection if you cause damage to someone else’s property or injure another person, usually up to $1 million.
Additionally, if you have homeowners or renters insurance, you might have some coverage for your belongings while they are being moved. However, this usually only applies during loading, unloading, or while in transit, and it won’t cover damage to the rental truck itself.
While the cost for rental truck insurance typically ranges from $14 to $25 per day, it can be a smart investment. Considering the potential costs of repairs or liability claims, this added coverage can save you from financial headaches later on.
Before you pick up a rental truck, it’s a good idea to check with your insurance agent. They can help you understand your current coverage and what additional protection you might need. If you’re planning a move, make sure to stay informed and protected during this busy time.