Rental companies typically offer four types of auto insurance for their fleet:
Also, know that if you have an at-fault collision with a rental vehicle (where you are more than 25% at fault, regardless of who pays the damage claim), the collision will still go on your driving record.
Does your credit card provide car rental insurance?
For example, collision damage coverage may only apply when renting automobiles from companies approved by your credit card company, and when using your credit card to pay for the rental. If you are not paying for rental car coverage through your credit card, you are personally liable for the rental vehicle if you get into a collision. See the best Canadian credit cards that include rental car insurance benefits.
How to check if your auto insurance policy provides coverage for a rental vehicle
If your auto insurance policy includes OPCF 27, you don’t need to purchase additional coverage from a car rental company.
Car insurance companies in Alberta offer a similar endorsement, but it’s called Standard Endorsement Form (SEF) 27. SEF 27 allows you to transfer your personal vehicle’s physical damage coverage to your rental vehicle.
Err on the side of caution and give your insurance provider a call before you pick up a rental vehicle to make sure you have coverage. Also, be aware OPCF 27 and SEF 27 are valid only in Canada and the U.S.
How to get rental vehicle insurance for a car rental outside Canada and the U.S.
If you’re renting a car outside of Canada and the U.S., do a little homework and find out what your insurance options are.
Do you need to purchase truck rental insurance?
Driving a large truck or cube van is another matter when it comes to auto insurance. The coverage options are like those for rental cars. Truck rental insurance includes damage waivers, supplemental liability insurance, personal collision and cargo protection, as well as auto tow coverage, which you will need if you are using a rental truck or trailer to tow your car.