Is loss/damage waiver the same as collision damage waiver?

Damage waiver or, as it is often referred to, collision damage waiver (CDW) or loss damage waiver (LDW), is optional damage insurance coverage that is available to you when you rent a car. It covers the rented car. Some rental companies also offer liability insurance and coverage of towing charges.

Is loss/damage waiver necessary?

Is loss damage waiver worth it? Yes. Loss Damage Waiver has the potential to save you both time and money if an accident was to occur during your rental. Without Loss Damage Waiver, in most states the renter is responsible for any loss or damage to the car, even if the damage is not the fault of the renter.

What is the difference between damage waiver and excess protection?

An excess is the most you’ll have to pay towards repairs to certain parts of a rental car. Collision Damage Waiver policies almost always have an ‘excess’. If you’re worried about bumps and scratches, remember you’re protected by your car’s Collision Damage Waiver.

Should I get LDW for rental car?

You have inadequate or no auto insurance: If you don’t have car insurance or comprehensive and collision coverage or have very high deductibles, it’s a good idea to get LDW from your rental car company. If you don’t have any auto insurance at all, you should also purchase supplemental liability.

What happens if you put a dent in a rental car?

Minor damage to a rental car, such as scratches, dents, or a chipped windshield are covered by the Damage Waiver. Your personal auto insurance may or may not cover the cost of repairs, so it is best to contact your insurance provider before renting a car.

What is SLI in car rental?

“SLI” is short for Supplemental Liability Insurance, and this is a type of car hire insurance that gives you third party liability cover. In most parts of the world all rental cars must have some level of third party liability cover which usually is included in your standard car rental agreement.

What is collision damage waiver when hiring a car?

A Collision Damage Waiver (CDW) is additional protection that reduces your liability for damage if your hire car is stolen or damaged. You usually agree to an excess fee, meaning you’ll cover the cost of any repairs up to this amount.

How does damage waiver work?

A collision damage waiver (CDW) is an optional contract sold by rental car companies to cover you in case of an accident or other damage to your rental car. The collision damage waiver covers only the rented vehicle and means that the rental company waives its right to pursue you for damages.

What is collision damage waiver insurance?

What are rental car damage charges and who’s liable for them?

Rental companies hold drivers liable for anything that happens to the vehicle during the rental period, even if the incident that caused the damage was out of the driver’s control. Such rental car damage charges can occur when there isn’t a rental company employee available to examine the vehicle when you pick it up and again when you return it.

What is loss of use on a car rental?

“Loss of use” is a car rental concept that, on the surface, seems reasonable. If you damage a car and it has to get repaired, you compensate the company for what it would have made as a rental if the vehicle had been available. But under the hood, loss of use looks more like a junk fee.

What should you do if your rental car is damaged?

No matter what kind of rental company you use, inspect the car thoroughly before driving off and report any damage, a dirty interior, or other problems to the company immediately. If it’s a full service rental company, have an employee inspect the vehicle with you and note any damage beforehand.

Why don’t the car-sharing companies inspect the cars between rentals?

Because the cars aren’t inspected between rentals, the car-sharing companies depend on the next renter to report any damage to the vehicle interior or exterior before driving it. There are a couple of problems with this system.