It shouldn’t be surprising that U Haul offers insurance to its customers since the nature of the business is high risk.

Transporting property in heavy-duty vehicles is a handful, and once the process is spread over several days, there is a higher risk of properties being stolen or damaged.

You may want to rely on your auto insurance or renter’s policy when transporting your belongings with rental vehicles, but we advise you to take up additional coverage.

Fortunately, U Haul has designed several insurance packages that offer the protection necessary for transporting items via rental equipment.

U Haul Insurance Coverage 

U Haul Insurance covers several packages with different levels of coverage; we explained them below.

Safemove

The Safemove package is specific to moving trucks. The package includes:

1. Accident coverage to the rental equipment. However, it does not cover damages caused by collisions with overhead objects.

2. Protects cargo from damages caused by collision, fire, overturn, and windstorm

3. Medical expenses for the driver and passengers

Safemove Plus

Safemove plus covers moving trucks and include:

1. Everything covered in Safemove 

2. Coverage for damage caused by collision with overhead objects

3. Supplemental personal liability to the tune of $1,000,000

Pickup Truck And Cargo Van Coverage

U Haul offers collision damage and waiver coverage for their fleet of cargos and trucks. This features a $150 deductible on accidental damage. For corporate customers, other deductibles may apply.

Safe To

The Safe to package is available for trailers, tow dollies, and auto transport rentals. It covers damage on the rental equipment and medical expenses for drivers and passengers. The package also includes multiple levels of cargo protection.

Safe Trip

Safe trip offers roadside assistance at a flat rate. The package covers:

1. Fuel delivery

2. Jump starts 

3. Lost keys

4. Lockout service

5. Trailer hook-up problems 

6. Stuck vehicles

Safestor And Safestor Mobile

Safestor policy covers your property while it is stored in U Haul’s storage facilities. The Safest mobile policy covers property in moving containers. These packages cover your property from several perils. A few of them include:

1. Burglary

2. Fire

3. Water leakages

4. Explosions

5. Earthquakes

6. Vandalism

7. Vermin

What Is U Haul Insurance?

U Haul insurance is a package offered to customers when they rent one of their equipment. This equipment could be a van, truck, trailer, or tow dollies. Whatever the case, the company offers several insurance packages for any equipment you are renting.

Your auto or renter’s insurance policy may offer limited coverage for passenger cars, but it is unlikely that they will offer any coverage for vehicles designed for moving cargo.

Renting equipment from U Haul without insurance puts you at risk of paying out of pocket if you have an accident. 

U Haul’s insurance packages are more comprehensive than that of your auto policy. Not only will they offer coverage for medical expenses and damages to the equipment, but they also offer protection for your cargo. But, of course, all this is dependent on what package you apply for.

Your Current Policy Vs. U Haul

We wouldn’t advise you to jump into accepting or declining insurance from U Haul. Before you make a decision, get in touch with your current insurance provider to find out what your current policy covers.

The usual case is that your policy cannot offer you all the protection you need. For example, your auto insurance or homeowner’s policy can only offer limited protection on any renting equipment.

It would be in your best interest to purchase additional coverage from U Haul. Any insurance package your purchase from them will be more comprehensive, covering both the equipment and the items being transported. 

The liability on U Haul’s insurance packages goes as high as $1,000,000. This is a huge benefit for people renting heavy-duty equipment.

Alternatives To U Haul

One great thing about life today is the ability to choose. Remember, you are free to decline U Haul’s insurance offer on insurance for any other company of your choice. 

Below we listed other rental agencies with similar packages to U Haul:

Frequently Asked Questions

We’ve provided a list of frequently asked questions and answers about U Haul Insurance Cover. Check them out!

Are There Age Restrictions For Renting At U Haul?

U Haul rents equipment to people as young as 16years; however, the trucks are reserved for drivers that are 18 and older. No matter what age you are, all renters must possess a government-issued driver’s license to rent from U Haul.

What Is The Cost Of U Haul Insurance?

How much you spend on U Haul insurance depends on where you are located. Some packages go for as low as $16 per day, while others cost as much as $30.

When Renting From U Haul, Are My Insurance Details Necessary?

This depends on whether you accept the company insurance package or not. When renting U Haul equipment, you will be required to provide proof of insurance if you decline their insurance.

Conclusion

U Haul insurance offers several packages with different levels of coverage and at an affordable rate. It would be best to purchase any of these packages when moving your belongings via their rental equipment. The reason is that it would save cost by reducing the amount you would spend out of pocket in the event of a peril.

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Rental insurance shouldn’t be confused with rental reimbursement coverage. Rental reimbursement coverage provides reimbursement on the cost of renting a vehicle when your primary vehicle is undergoing repairs from damage covered under your auto insurance policy. 

Rental insurance, on the other hand, is equivalent to your car insurance but for rented vehicles. It is common for rental companies to offer you insurance on their vehicles over the counter. 

You may not need to purchase their insurance if your auto insurance is like Geico’s, which already makes provisions for rented vehicles. 

Geico Insurance On Rental Cars 

Geico’s coverage on your car being the same as that on your rental vehicle could be a blessing or a curse depending on the situation. 

If your vehicle is a brand new model, for example, a custom-made G-Wagon, and you rented a less valuable model of a car, you’re good to go. 

If your vehicle is an older model, it is possible that your coverage won’t repair any damages on a rental car, which is usually a more recent and expensive car. Unfortunately, this is a more realistic picture than the one painted above. 

Areas Covered Under Rental Car Insurance 

Many companies like Geico will already make provisions for rental vehicles in your auto insurance policies; hence you may not need to purchase a separate rental policy. 

However, it is common practice for rental companies to offer you insurance at the counter for their vehicles. You have the right to either accept the offer or waive it. 

Rental insurance is usually split into the following sections:

1. Liability coverage 

2. Personal accident insurance 

3. Collision damage waiver / Loss damage waiver 

4. Personal effects coverage 

Liability Coverage 

This is the most basic form of rental car insurance, and most auto insurance policies on your vehicle will cover the same areas as liability coverage on rentals. So, in essence, you can skip this one, depending on what your policy covers. 

Personal Accident Insurance 

This policy covers medical bills for injuries that occur in rental vehicles. If your auto insurance policy comes with personal injury protection or medical coverage, you may not need this as a separate policy. 

Collision Damage Waiver / Loss Damage Waiver 

Technically, CDW and LDW are not insurance products but waivers. These waivers transfer the responsibility of attending to a vehicle after damage or theft from you to the company. 

Some rental companies will charge you for the time a damaged, damaged car is out of use cause it is being repaired; these waivers also cover this. 

Personal Effects Coverage 

Personal effect coverage indemnifies you for any items stolen in rental cars. Most homeowner policies cover stolen items, even from rental vehicles. However, we would advise you to check that your policy has this coverage before turning down this coverage. 

Reasons To Consider A Separate Rental Insurance Policy 

Even if your auto insurance policy with Geico is extended to your rented vehicles, you may still feel the need to purchase an additional policy for your rental cars. This hunch isn’t based on a mere gut feeling; there are advantages to getting rental insurance. 

Renting An Expensive Vehicle

Chances are you’ve parked your Toyota Corolla at home to enjoy the weekend in a Mercedes Benz. Remember your auto insurance only covers your rental to the limit of your car. So it is a good idea to beef up the coverage you have for such occasions. 

Spotty Or Low Coverage 

If your insurance with Geico isn’t comprehensive and you’re lacking other packages such as personal accident insurance, it would be best to purchase additional coverage from your company or the rental company. 

Avoiding A Claim On Your Insurance 

Too many claims on your insurance within a short period will cause your insurance premiums to explode. So if you’ve recently made a claim on your company, you may want to thread to caution and avoid making another claim by making an extra purchase for rental policy. 

High Deductibles

Some companies have high deductibles, and it would be more rational to purchase a rental insurance policy than cough up more cash to meet your deductible before your company contributes to your costs. 

Frequently Asked Questions

Will My Credit Card Cover Rental Car Insurance? 

You would have to check in with your credit card provider to answer this question accurately. If your auto insurance policy has a few gaps in its coverage, you could depend on your credit card for secondary coverage. 

Do I Need Rental Insurance? 

First, check-in with your insurance company on what your auto insurance policy covers. If you have a comprehensive policy alongside liability coverage, you may not need additional insurance for a rental. 

However, if the vehicle you are renting is significantly more valuable than your primary vehicle, it is in your best interest to purchase additional insurance for the rental vehicle. 

Conclusions  

Geico auto insurance on your primary vehicles covers rental cars. However, if your package isn’t comprehensive and you lack other additional policies, this may not be the blessing it is made out to be. 

Your rental car is only covered to the limit of your car, and rental cars are usually more expensive than your car parked at home. 

It is in your best interest to either purchase rental car insurance from your provider or the rental company when offered at the company. This could save you more stress than you know. 

In the event of an accident or theft, while you are with a rental vehicle, you don’t have to worry about if you are covered. Not only that, you could be avoiding increasing your premiums from your current insurance provider for making frequent claims within a short period. 

The post Does Geico Insurance Cover Rental Cars? appeared first on Insurance BlogX.

There are many stories on the internet concerning rental car damage, and a few of them could leave you wary of ever renting a vehicle. 

The U.S. car rental industry collected over twenty-eight billion dollars; rental companies got this revenue from about 2.1 million rental cars, which unfortunately couldn’t be returned in the same state you rented them.

The first step to handling a damaged rental car claim is to know what your auto insurance covers. Car rental companies see damages as a profit opportunity; this means rental companies won’t overlook any chance they get to make you cough some extra bucks easily. 

Rental car company staff are trained to spot every dent, scratch, and ding on the returned vehicles. They will then charge you ridiculous amounts to have these damages repaired. 

This is why it is important to have insurance when dealing with these companies, except you have a lot of money to spare; you wouldn’t want to put up with their charges out of pocket. 

How To Handle A Damaged Rental Car

Suppose you are on vacation and you have rented a nice vehicle to cruise around town when your tire gets flat in the middle of nowhere. Or maybe you scratched the car, or someone busted your side mirror. What will you do?

If you have a comprehensive auto insurance policy, you may be tempted to repair the vehicle before returning it to the rental company. 

However, the best thing to do is to inform the rental company of the damaged tire, rim, side mirror, or whatever and have them instruct you on what to do next. 

The most likely thing to happen is that they request you to repair the vehicle and provide you with a receipt to process reimbursement with your insurance company. 

If you purchased the company’s rental car insurance, you might not need to take further action. In most cases, the damage will be covered by the additional insurance you purchased, and you will even be handed over a new vehicle to use while the other is being repaired.

How To Avoid Unfair Rental Damage Claims

Suppose you rented a car and returned it, only to receive a claim later that you damaged the vehicle and have to pay for repairs. Unfortunately, many people have fallen victim to such a scenario, especially when using car-sharing services.

We highlighted some easy precautionary steps to take to avoid such a situation from occurring:

Flee from Car Sharing

Before you patronize a car-sharing service, think long and hard about it. These services are at high risk for rental car damages. Therefore, our advice is to avoid them like the plague.

Report All Damages 

This might seem like a no-brainer, but many fail to execute it is a prudent step. No matter the car company’s reputation you are using, always inspect the vehicle for damages before driving off with it.

Some companies will have someone inspect the vehicle with you before leaving with it and have them document any notable dents and scratches. 

When returning the vehicle, have the same staff inspect the vehicle again and confirm there is no additional damage to the car. If possible, get a written and signed confirmation. Also, avoid returning the car when there is no employee available to inspect it in your presence. 

Document The Vehicle Before Leaving

It may sound a little extreme, but it is worth the trouble to avoid being charged exorbitant amounts for a car you did not damage.

Try to take photos or even videos of the car before and after using it. If the car’s electronic system displays time and date, you should get shots of those, too, so the company does not discredit your photos as doctored images. 

Try to spot any damage on the car as it is handed over to you to avoid being held liable for such damages when you return the vehicle.

Go Through Your Insurance

If your auto insurance is comprehensive, it may cover perils on rental cars. The same may also apply if you use a credit card to pay for your rental, going by your credit card coverage. 

Check with your insurance provider or card issue first to know your level of coverage before renting a vehicle.

Buy The Collision Damage Waiver

Usually, when renting a car, an agent will offer you some insurance for the vehicle. If your auto insurance does not cover rental cars or you don’t have any at all, spending the extra money is not a bad idea.

In most cases, the collision damage waiver will exempt you from covering any damages to the vehicle while it is in your custody. However, we will advise that you take the time to read the contract before signing it.

Conclusion

Rental car companies are tricky to handle—some hunt for innocent victims to make a few extra dollars.

It is strongly advised that you inspect the state of a car before and after you use it and even document your observations via pictures, videos, or both. 

Should you damage a rental vehicle while it is in your custody, contact the rental car company first on what step to take. 

Sources

So Your Rental Car is Damaged. Now What?

Avoid Being Unfairly Charged for Rental Car Damage

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