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In Summary: These optional insurance plans protect you against any damage or theft to your rental vehicle, and are available for an additional daily charge at most Budget locations in the U.S. As with any optional insurance or protection plan, smart renters will want to do some research before purchasing these options.
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Overview
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- Select the coverages available at a particular rental location during your online reservation process. You'll always have the opportunity to change your coverage selections at the counter when you pick up your car.
- The benefits of the coverages described below vary by location.
- Plans are provided by independent insurance companies, and are subject to the provisions, limitations and exclusions contained in the actual policies, which are available for review upon request.
- Other rental companies may offer similar coverages under different names and at varying limits and costs.
If you have questions about a specific coverage, please check with the renting location or contact us in the U.S. toll-free at 800-527-0700.
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Loss Damage Waiver (LDW)
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Loss Damage Waiver (LDW) relieves renters of financial responsibility if the car is damaged or stolen while under rental contract.
- Alleviates your responsibility for up to the full fair market value of the car if it is damaged, vandalized or stolen during the rental.
- Alleviates your responsibility for reimbursing the car rental company for any revenue lost during the period that the company is unable to use the car while it is being repaired, or in the event that the car is not recovered due to theft (loss of use).
Budget recommends that you decide whether or not you need LDW before you pick up your car, and if you don't need LDW, don't buy it.
When renting for business, check with your corporate travel manager to see if the company provides coverage in the event of loss.
If you're renting for personal reasons, check your own automobile insurance policy before you pick up your rental car. Many policies do cover rental cars, but even if a renter has personal automobile insurance, he or she may not be totally protected.
- If you decline LDW and rely on your own insurance, you probably would be responsible for paying your usual deductible.
- A loss-of-use fee is not normally covered by personal auto insurance policies.
- Personal auto policies may only provide a coverage limit equal to the value of the vehicle scheduled on the policy. If the value of the renter's personal auto is less than that of the rental vehicle, the renter could still incur some damage responsibility.
If you don't own a car and don't have automobile insurance, you should consider accepting Loss Damage Waiver to cover yourself.
Credit Card Coverage
Some credit card companies offer protection if you present their card at the time of rental, and if you use the same card to pay for your rental at the time of return. Renters should closely examine the terms of this coverage because the protection is often supplemental, and certain limitations or restrictions may apply. Remember - if the insurance doesn't cover your loss, you will remain personally responsible for any difference!
Travel Package Coverage
Many companies that sell online travel packages (airline, rental cars and hotels) offer insurance protections that claim to cover rental cars. Renters should closely examine the terms of this coverage because the protection is often supplemental, and certain limitations or restrictions may apply. Also, some of those packages might not protect you entirely for any loss or damage to the rental vehicle. Remember - if the insurance doesn't cover your loss, you will remain personally responsible for any difference!
Some additional things to note about Loss Damage Waiver:
- LDW is not available in all states, and certain restrictions may apply in some states.
- Specific information on availability of optional LDW and the cost can be obtained when making a reservation.
- Using the vehicle in violation of any of the use restrictions listed on the rental agreement could void LDW and leave the renter fully responsible for any damage to the vehicle.
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Supplemental Liability Insurance (SLI)
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Supplemental Liability Insurance (SLI) is excess automobile liability insurance that protects you and all authorized drivers of the rental vehicle against third-party bodily injury and property-damage claims for which you are legally liable. When SLI is purchased:
- Liability protection provided by Budget and the SLI carrier becomes primary, and applies before other liability protection available to you.
- You probably won't have to call upon your other protection unless the loss exceeds the SLI limit or results from your use of the vehicle in violation of the terms of the rental agreement.
- By not having to file a claim under your own policy, you can probably avoid possible premium increases or even cancellation.
- Provides a high limit of liability protection that might not otherwise be available to the renter. By accepting SLI, the limit of liability protection available to the renter or authorized driver is $1 million combined single limit.
NEW! Effective January 1, 2009, all participating corporate and agency operator locations will offer enhanced Supplemental Liability Insurance that covers the difference between the basic liability protection provided with the rental and $2 million per occurrence. (Areas not participating include Alabama, Alaska, Georgia, North Carolina, North Dakota, Puerto Rico, South Dakota, Vermont, Virgin Islands and Washington State.)
This enhanced coverage is available only at the rental counter, and the per-day cost will vary by state. The daily price will be printed on rental documents. Customers renting with rates that include standard SLI will continue to receive the coverage up to $1 million.
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Personal Accident and Effects Insurance (PAE)
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Personal Accident and Effects Insurance (PAE) protects you and your passengers against accident, injury, and loss to personal property.
- Provides renters and occupants of the rental vehicle with accidental death benefit and coverage for certain medical expenses resulting from an accident.
- Renters are protected both in and out of the rental vehicle during the entire rental period, and others are covered while occupying the vehicle.
- Provides protection against loss of, or damage to, certain personal property of the renter and individuals traveling with the renter and being transported in your Budget car.
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Emergency Sickness Plan (ESP)
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Emergency Sickness Plan (ESP) provides international renters visiting the U.S. with coverage for medical expenses resulting from sickness. At most locations, other liability protection available to the renter from any source will be primary, and will apply first in the event of an accident.
- Protects international renters possessing a non-U.S. passport against certain medical expenses resulting from sickness occurring during the rental period.
- Covers other members of the renter's traveling party who also have non-U.S. passports.
- Purchase PAE in combination with ESP and international renters who might otherwise have no medical coverage available to them while in the U.S. are protected against medical expenses that result either from accident or sickness.
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