In the months ahead, many of us will be renting vehicles for vacation travel. Here are a few things to consider when renting:
- 1. What is the right size vehicle? Do you have a preference on the kind of vehicle (i.e.: SUV, Van, Compact, Luxury)? Be sure to choose the right car. You will need to take into account how many people you will be in the vehicle, amount of luggage you will be taking (and what additional items you may be bringing back). Choosing the right vehicle with the necessary amount of space will make your trip much more enjoyable.
- Plan to book your rental early. This will ensure the type of vehicle you desire is available.
- Your existing auto insurance policy will cover your rental vehicle for liability in the amount you are currently carrying on your policy. You will also be covered for comprehensive and collision insurance if you currently carry that insurance on your owned vehicle.
- Important that you beware of hidden costs. The advertised rental fee will not usually be the only fee to be concerned with. You will need to inquire on the cost of gas, how much the rental agency will charge for any damages, the cost of insurance, taxes and so on. One additional fee you should consider is to purchase the GAP insurance from the rental agency. This insurance will cover the difference in what the rental agency states their vehicle is worth and what your insurance company will pay for the vehicle. There could be $$$ (in the thousands) where the companies do not agree. Without this valuable coverage, you will be stuck to pay the difference out of your pocket.
- Be sure to check the vehicle for damages before leaving the rental agency. Make sure all damages are noted and initialed by attendant on the rental form so you are not billed for any repairs. Hold on to your initialed copy of the vehicle’s damages as proof that you pointed them out to the agency.
- When returning the vehicle, you can avoid additional fees by: returning your rental to the agent on time, making sure vehicle’s interior is clean and by making sure the vehicle is fully gassed up.
- It is very important that you keep a copy of your rental agreement. Take time to read over your rental agreement to make sure you aware of all charges or credits that may be involved. After returning the rented vehicle, monitor your bank account/credit card statement to make sure you were correctly charged for the rental, and that any credits or adjustments due are credited.