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Rental Reimbursement coverage pays the cost of the rental car if your own car is stolen or becomes disabled due to a covered cause of loss. This coverage thus reimburses you for transportation expenses up to the specified limits fixed in your policy. In accordance with your Rental Reimbursement policy limits the insurance company will cover either part or the entire rental bill.
Rental Reimbursement coverage is an additional option valid only if you purchase Comprehensive and/or Collision coverage and the loss to your vehicle involves either of these two kinds of coverage.
Rental Reimbursement coverage is often considered confusing as it involves many choices and requires you to be careful when deciding on a suitable policy. It is important to keep in mind that an insurance policy may cover your rental expenses only if you were in an accident. If your car breaks down due to a mechanical failure, your insurance policy may fail to reimburse you and you will have to seek an alternative source of coverage or, most likely, to pay out-of-pocket.
The standard Rental Reimbursement can vary depending on the area of the country you live in or the type of a vehicle you need to rent. Costs also range depending on the amount of coverage chosen to be sure you will be set up with a rental car if there is a necessity. In accordance with your insurance policy, you might need to pay for the rental car up front and then file a claim for reimbursement. Other companies allow the rental car company to bill your insurance company directly.
In some cases, if you have a backup vehicle available while your main car is being repaired; it is not worth purchasing Rental Reimbursement coverage and paying extra premium rates. But this coverage can be absolutely necessary if you truly appreciate your own time and convenience. Therefore, when deciding whether Rental Reimbursement coverage is worth it, make sure you assess your needs and discuss everything with your agent. Many drivers are surprised to find out that their Auto Insurance does not automatically cover Rental Reimbursement costs. They just overlook or bypass this optional coverage. Do not be one of those drivers who are wise only after the event.