Accidents happen when you least expect it. When you’re driving a moving truck, and you find yourself stuck in a situation, who pays for the bill? Many times, renters skip paying for insurance because they think that their auto policy will cover them. It’s not until the very end when they realize that they’re not covered.
So before you think about taking a rental truck off the lot, verify that your insurance will cover you in the case of an accident. If you happen not to be protected, we strongly urge you to add the optional coverage via a rental agency. This safeguards your belongings and decreases your liability. The following are different types of truck rental insurance:
Supplemental Liability Insurance
Also known as SLI, is an insurance policy that covers your belongings and yourself from damages that are made against you by other people. In many cases, the coverage maxes out to $1,000,000. If you choose to go this route, you should read the terms and conditions first as the policy often excludes a lot of items.
Auto Tow Protection (ATP)
Those who are looking to tow their vehicle or trailer could use an Auto Tow Protection under their name. This will cover damages during transport. The coverage will apply to automobiles that are on car trailers or car dollies. Most forms of damages such as an explosion, fire, hail, flood, vehicle overturn, collision, landslide, or windstorm will often be covered by this policy. Often, there will be a deductible required for this plan, so make sure to know what it is because signing up.
Having this waiver will pardon you from any financial responsibility if an accident happens. It also covers theft or loss. They are available in two options: Limited Damage Waiver (LDW) or Personal Damage Waiver (PDW) policies. When choosing PDW, the renter has zero responsibilities towards the vehicle. When choosing LDW, the renter will be charged the first $500 of the damages. Keep in mind that damage waivers are not insurances. Instead, they’re optional plans that improve your security.
Personal Accident and Cargo Protection (PAC)
This protection plan covers your items and yourself when you’re in the truck. The costs are covered if injuries or damages happen within the listed causes. The limit to this plan does not cover the costs when theft, shifting cargo or burglary occurs. Rental companies will have exclusions, and many policies are for non-commercial clients.