I have been in the insurance business almost ten years; much of which I have spent selling personal lines insurance. During this time I have seen one coverage in particular stand out and that coverage is substitute transportation coverage-better known as “rental.” The reason this coverage stands out so much is that it is the one coverage that no one thinks they need. This is until they actually DO need it.
When you purchase your auto insurance there are several things that you should know. For the purpose of this blog I’ll review two of the most important things. The first is value and the second is need.
Price is very important when it comes to insurance for most people. No one wants to pay more than they have to for insurance. The problem is that some people often short change themselves when better coverage may be as cheap as $10 more per year. At FBinsure, we know that it is important that insurance is affordable for you, but we also understand the importance of being properly protected. That is why we strive to find you the best coverage at a decent price.
When purchasing your auto insurance, it is very important to evaluate your needs. One coverage you should really evaluate and consider is rental coverage. Ask yourself this question “If I have a claim and my vehicle is no longer drivable what will I do?” If your answer is “I don’t know”, then you definitely need rental. Many people overlook this when buying their policy. They focus on the price because rental is not needed at that time. I always guide my customers in this area by saying that just because it is not needed NOW, does not mean it is not needed EVER.
I recently had a claim of my own when my car was totaled. Because I purchased rental car coverage I was able to get a temporary replacement vehicle while my car was being repaired. This cost me no extra money other than the minimal cost I pay for this coverage. If I hadn’t purchased the coverage the cost for that same rental car would have exceeded $1,000 for the time I was without my car. I don’t know about you, but an extra few dollars a month was easier to pay than the $1,000 rental bill! This is where affordability and need come together to create value.
So the next time you are sitting with your agent and the topic of rental comes up stop and give it serious consideration. When the vehicle you rely on everyday is suddenly down for a period of time due to a covered loss, you will be happy you spent a few extra dollars a month for a replacement vehicle.
