People often assume their auto or credit card policies provide adequate protection when renting a moving truck; unfortunately, this is not always true.
Rental truck companies typically provide various protection plans, such as damage waivers, supplemental liability insurance, roadside assistance and cargo coverage. While costs can add up quickly when traveling long distances, such plans could prove invaluable on longer journeys.
Auto Insurance
Personal auto policies typically cover any vehicles you own or lease, but this may not always be true when renting one. Most rental truck companies provide additional policies that protect renters while driving the truck; such as liability coverage in case of accidents with other cars or property and collision and damage protection policies if desired. Supplementary policies from rental truck companies offer added coverage beyond minimum limits required by rental company requirements and provide greater peace of mind during driving a truck rental experience.
Most standard auto insurance policies do not provide coverage for moving trucks due to their size and weight; as noted by NerdWallet, most policies have maximum weight limits that specifically exclude cargo vehicles like moving trucks from coverage. It is wise to first consult your personal policy and credit card providers as to if any protection will exist when renting one; otherwise consider purchasing a rental protection plan from the provider of your rental truck.
As well as collision and damage protection, most rental truck insurance plans also include liability coverage to cover property damage or injury claims if an accident involves another car or person if you’re at fault. This can save a great deal of money should an incident occur; additionally, additional liability coverage can be purchased to increase current limits of your policy.
Some rental truck insurance plans also include roadside assistance benefits. This might include fuel delivery service, jumpstarts and flat tire repairs – an especially helpful feature if making a long distance move. Furthermore, some plans even cover towing services for any vehicles being pulled behind the truck as well as cargo insurance in case any valuables go missing during transit.
Your truck rental protection plans depend entirely on your comfort level with risk involved with self-moving. While most rental truck insurance policies are relatively cost effective, having peace of mind during a DIY move could save money in case of accidents or vehicle damage. If this is something you feel confident undertaking yourself, purchasing an additional protection policy might just provide added peace of mind during transit.
Health Insurance
Residential moves can be stressful enough without adding financial concerns to the mix. No matter if you opt for professional assistance or move solo, costs add up quickly: packing costs, professional moving rates (or truck rental fees), fuel charges and insurance premiums to name but a few. Rental truck coverage provides some peace of mind.
Cost of rental truck coverage depends on the company and plan chosen, typically between $14-30 a day depending on deductibles and exclusions; U-Haul’s Safemove policy excludes damage caused by colliding with overhead objects as well as cut, blown or damaged tires; these are both common causes of truck accidents that would otherwise be covered under insurance policies. Likewise, theft usually not covered.
Renting a moving truck can be an unfamiliar and potentially risky experience for drivers, with risks being greater than ever before. Even experienced drivers can encounter situations they’ve no control over that may end up leading to legal ramifications – that’s why rental truck insurance should always be taken seriously.
Most auto insurers and credit cards provide limited coverage when renting vehicles; their policies typically exclude cars with a gross vehicle weight rating (GVWR) exceeding 9,000 pounds or maximum load capacities exceeding 2,000 pounds – both categories fall within which moving trucks fall. It’s essential that before renting one you know which sizes of vehicles fall under existing policies to ensure adequate protection.
Most rental truck companies provide comprehensive packages of coverage options. U-Haul’s Safemove package, for example, features personal accident medical coverage for both driver and passengers as well as cargo protection and damage waivers to help offset risk associated with liability, large repair bills and lost items that might occur during a move. If your auto or credit card policy already cover moving truck rentals then it may be wiser to opt out of purchasing additional moving insurance and instead rely on what your current policies cover instead.
Credit Card
Many people assume their personal auto or credit card will cover them when renting a truck, but that may not always be true. Due to their height and size, rental trucks are classified differently than regular automobiles. As such, it’s wise to purchase moving truck rental insurance from the agency that provided your vehicle. They typically offer various coverage options that go beyond state minimum limits, including cargo protection for your belongings and additional liability coverage that offers higher limits than state minimums.
Even for short distance moves, renting truck insurance can be invaluable. Driving a large truck differs significantly from driving a car or SUV and inexperienced drivers may cause damage. Common missteps include incorrectly shifting gears, transporting too much equipment too high up and running into overhead objects that are too tall to pass under safely – each mistake could end up costing your possessions dearly and the rental truck itself.
Rental truck policies typically combine multiple coverage types into a package with various limits and deductible options, often at a significant savings over purchasing individual policies individually. Although the initial investment may seem costly for short moves, consider what happens without rental truck insurance: sizable deductibles could become your responsibility or premiums may increase dramatically with personal policies.
Before making a decision about buying rental truck coverage, it’s wise to review both your homeowners and auto policies. Many policies do not cover rental trucks due to their size or because they are different types of vehicles than cars. If you decide to purchase rental truck insurance, be sure that it is clearly labeled and read through its details thoroughly before purchasing a policy.
Rental truck insurance often includes personal accident and medical coverage in addition to damage waivers, making them essential when performing DIY moves. They cover your expenses should an accident happen while protecting against medical costs as well as property losses out-of-pocket; typically at a fraction of their costs and can save thousands over time.
Homeowners Insurance
Many rental truck companies provide protection plans designed to assist customers during DIY moves, from liability and personal accident coverage through cargo insurance and roadside assistance. You can select an option that meets both your needs and budget – review each option’s coverage limits before making a final decision! It is important to remember that this type of insurance does not replace personal auto or homeowner policies.
Due to size and weight restrictions, most personal auto policies do not cover rented trucks due to size/weight limitations. Even if your personal vehicle does cover a large van, its coverage may not provide adequate compensation in case any injuries or damages occur during a moving journey. Credit card coverage typically excludes rental truck/trailer rentals due to these restrictions.
Renting a truck can be expensive enough; add to that any repair bills or medical expenses related to an accident you cause and it could become more stressful than necessary. Rental truck insurance provides peace of mind by eliminating this potential source of strain.
Some drivers decline the optional coverage offered by rental truck companies and assume their auto or health insurance will cover any damages to the rental truck, however this may not always be the case; you should carefully review your policy to identify what types of protection exist and any extra policies that you need to purchase separately.
Discover more about available coverage by reaching out directly to your rental truck company. They will give you a list of coverage and rates. The cost will depend upon factors like type and length of move, insurance selected and other considerations.
Renting a truck has many advantages, yet the associated risks can be considerable. By taking some time to research available insurance coverage and planning ahead for potential issues during your move, you can ensure everything runs as smoothly as possible and don’t encounter unexpected costs along the way.
