Autocam – Comprehensive auto insurance rates vary from person to person, and car to car. Depending on a number of factors, this coverage can range from relatively inexpensive to overall quite pricey. As comprehensive coverage protects vehicles damaged or lost by theft or vandalism, car anti-theft devices including autocam, in addition to other factors, can lower the rates of this type of car insurance coverage.
Comprehensive Car Insurance: What Does It Cover
This type of coverage pays for damages to vehicles that result from entities beyond a driver’s control. Damage from floods, hail, winds, so called “Acts of God,” such as falling trees or telephone poles, and vandalism or theft are paid for by the provider when a client has this optional insurance.
Basic Factors that Influence Costs of Comprehensive Coverage
There are a number of factors that auto insurance agencies take into account when setting rates for this coverage. In areas where damage due to weather is likely, rates are probably going to be higher than they would in places where severe weather or flooding is uncommon. In some areas, even specific locations within a city, where crime is high, comprehensive auto insurance costs more than it does in places with low crime rates, as the chances of theft or vandalism, both of which a driver’s agency would have to pay for, are more likely in places with higher crime. However, regardless of one’s place of residence, anti-theft devices for cars directly lower comprehensive coverage rates.
Car Anti-Theft Devices, Autocam and Auto Insurance Rates
Anti-theft devices like autocam, particularly in areas where crime is somewhat prevalent, reduce the rates of comprehensive coverage, because they can deter theft and vandalism. Depending on the exact situation, the autocam or other devices may or may not be worth their costs. In areas where crime is quite low, anti-theft devices may not reduce rates enough to even cover their costs over time.
In certain places, however, they can lower monthly premiums significantly, as damages that might otherwise be considered likely can virtually be eliminated by a driver who decides to protect his or her car by installing devices that prevent theft. Car alarms, steering wheel locks, tire locks, kill switches, and tracking devices are all items that can lower monthly premium rates, as theft, or theft with little chance of recovery is less likely when a driver has any of these.
Some anti-theft devices like autocam are inexpensive and can save a lot on auto insurance rates. It is best to talk to an agent at an auto insurance provider before investing in any particular device to find out how much can be saved by securing a vehicle, and if doing so is even worth the cost.
Should Drivers Purchase Rental Auto Insurance
Auto Insurance: What Car Rental Companies Offer Separately
When renting a car, the car rental company will generally offer the driver several choices in additional auto insurance that is actually quite similar to a typical auto insurance policy. Offerings include
Liability Auto Insurance: as in a typical auto insurance policy, liability auto insurance covers the driver financially in the case that he or she strikes another car and causes property damage and/or personal injury.
Loss Damage Waiver: although not auto insurance per se, the loss damage waiver (LDW) allows car renters to waive any financial responsibility for damage to the rental car or if the rental car is stolen. The LDW may also cover associated fees including towing, labor, and loss of use while the rental car is in the shop.
Personal Effects Coverage: protects the driver and passengers financially in the case of theft of personal items, e.g., electronics, luggage, and clothing.
Accident Coverage: protects the driver and passengers financially in the event of an auto accident that requires medical attention.
The most important auto insurance coverages that car rental companies offer is liability and the loss damage waiver. However, car renters can decline these additional coverages in most circumstances. But what exactly are the circumstances in which the driver can opt to decline additional car rental coverage?
Auto Insurance: When Should the Driver Decline Additional Car Rental Coverage
Often times drivers will make a quick decision in the car rental office because they aren’t aware of their current auto insurance coverages or whether they extend to rental cars. The driver should decline any additional car rental coverage until he or she calls the auto insurance and determines car rental coverage.
Per Loss Damage Waiver: if the driver is already covered under comprehensive and collision under his or her auto insurance, this additional car rental coverage should be declined. However, to be financially protected the driver needs to have both collision and comprehensive, not simply one or the other.
Per liability coverage: those who are not covered under auto insurance should consider purchasing the additional rental car loss damage waiver and liability coverage. However, the person also has the option of purchasing what is called a non-owner auto liability insurance policy. Drivers who are fully covered for liability on their auto insurance should decline this additional car rental coverage.
Per personal effects coverage: drivers who are covered under comprehensive auto insurance or have a homeowners insurance policy that includes theft coverage when away from home should decline this coverage.
Per accident coverage: if the driver is covered under personal injury protection (PIP) on his or her auto insurance and is also covered under a personal health insurance policy, separate rental car accident coverage should be declined.
Auto Insurance: The Bottom Line on Additional Car Rental Coverage
Most drivers who are already covered under full auto insurance (i.e., collision, comprehensive, liability, personal injury protection) are probably wasting money if they accept additional auto insurance in the car rental office. However, drivers should always check with their auto insurance company first before renting the car to make sure the auto insurance extends to rental cars. Drivers also have the option of calling their credit card company to see if it offers auto insurance coverage for rental cars.
