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Do I Need Truck Rental Insurance?

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  • Written By: Malcolm Tatum
  • Edited By: Bronwyn Harris
  • Last Modified Date: 06 December 2016
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    2003-2016
    Conjecture Corporation
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Truck rental insurance is a type of coverage that provides protection in the event of an accident or damage to a rental truck while it is in the possession of the renter. Many vehicle rental agencies that provide moving trucks and similar vehicles for rent or lease offer this type of coverage for an additional fee. The question for some consumers is whether they really need truck rental insurance or if they can rely on provisions within their personal auto insurance plans to cover the cost of any damages that occur. While in some cases that personal coverage may be sufficient, that is not always the case.

With truck rental insurance that is obtained through the rental agency, the scope of coverage is usually very broad, encompassing just about any type of situation that may arise. This includes theft of the vehicle, damage sustained as the result of malicious activities by third parties such as slashed tires or graffiti painted on the truck, or repairs to the truck after some type of traffic-related accident. It is not unusual for this form of insurance to also provide ample coverage for anyone injured during the related traffic accident, making the package an excellent source of liability coverage for the individual renting the truck.

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While it is true that many personal automobile policies provide some form of rental car insurance that could apply to the rental of a moving van or truck, it is important to look closely at those terms. There are usually limitations on the amount of coverage for collision or major medical expenses that are far lower than those provided by the coverage offered by the rental agencies. Identifying the range of coverage and which types of incidents are and are not covered makes it easier to compare the terms of the personal insurance plan with those of the truck rental insurance plans offered by the agency. If you find that there is a significant amount of difference in the coverage, going with the short-term truck coverage will likely provide both greater peace of mind, and also greater financial support in the event something does occur during the rental period.

It is also important to compare the terms of the truck rental insurance with any coverage provided by the issuer of the credit card used to secure the rental. Credit card car rental insurance, like personal auto insurance plans, may offer some protection on truck rentals as well. The issue is how much protection and what circumstances must exist in order for a given event to be covered. As with personal insurance plans, credit card auto insurance protection is likely to be somewhat limited. Look into what type of events are covered and how much coverage is provided for specific incidents, then compare that coverage to the terms of the truck rental insurance plan. You may find that paying a little more and securing the truck rental coverage is the most prudent move, both in terms of protecting your personal assets in the event of a severe accident and providing peace of mind while you are in possession of the truck.

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