When renting a truck from a moving company, it is advisable to look into insurance options in advance. So many of your belongings will be in that truck, and rental truck insurance can protect you from much of the damage resulting from an accident.
However, like other forms of insurance, rental truck insurance does not cover every single possibility, and in some cases, you may not eligible for it. Here is a quick guide to how rental truck insurance works to help you figure out if you even need it in the first place!
How Do You Know If You Need Rental Truck Insurance?
People often assume that rental truck insurance is already covered under their car insurance or credit card, but this is often not the case since because rental trucks tend to exceed the weight limit covered under car insurance. So before you rent a truck, call up your car insurance agent and check if you need separate insurance for your rental truck.
Depending on the moving company you work with, you might not even be able to rent a truck without having insurance – but it is advisable to get some even if the company doesn’t insist.
What is Included under Rental Truck Insurance?
Rental truck insurance is available in the form of personalized packages comprising of elements such as the following, although a moving company can choose to offer additional benefits.
- A damage waiver, which implies you won’t be responsible for accidental damage to the truck, although certain exceptions are applicable
- Medical and life insurance for you and your passengers
- Supplementary liability insurance to cover a certain amount of accidental damage to another person’s property. You may still have to pay some of the damages yourself
- Cargo coverage to protect the luggage in your truck from damage caused by natural accidents, like a fire
How Much Rental Truck Insurance Coverage Do You Need?
Insurance packages vary in much coverage they offer, but sometimes you may not require the most in-depth (and expensive) package. Again, checking with your existing insurance agents is important because some of your luggage might be covered under our home insurance already, or some of your supplementary liability may be covered by your car insurance.
If so, you would only need a basic rental truck insurance plan that covers accidental damage to the truck and your passengers. Certain damages aren’t covered even by the most comprehensive policies though – such as damage to the truck by an overhead object, like a bridge, or mechanical damage caused by your incorrect gear-shifting. There are limits in this world after all, and a certain degree of care will always be needed from your side!
How Can You Get Rental Truck Insurance?
The easiest way to get rental truck insurance is to buy it from the moving company whose truck you are renting. Many companies offer such coverage and have options listed on their website. If your moving company doesn’t, then you can check with your regular insurance agency.