Rental Car coverage is an optional coverage that you can purchase on your Ohio auto policy. You must purchase physical damage coverage in order to be eligible to buy rental car coverage. That is, unless you have comprehensive and collision coverage on you vehicles, you can not purchase rental car coverage.
Simply put, if you have a covered claim, and you need a car to drive while your vehicle is being repaired or replaced, you’re entitled to a rental car, if you bought the coverage. The amount of coverage you buy is up to you, and is expressed in a dollar limit per day, with a maximum number of days the benefits will be paid. The coverage amount is usually available in increments of five dollars, starting at $15 and going up to a high of $40 or $50 per day, for 60 or 90 days. This puts a maximum dollar amount that the insurance company will pay for your rental car. If you’ve selected $20 per day, but want to drive a $30 per day car or truck, you’ll be responsible for the difference.
When you need to use your rental car coverage your Ohio insurance company will want you to put the charge on your credit card, and they’ll reimburse you after your car is fixed, and the rental car is turned in. At that time, they’ll be able to calculate how much they owe for the rental, based on the maximum amount they pay per day, and the number of days you had the car.
Premiums aren’t expensive, starting at about $20 per year per vehicle. Keep in mind that if another party is at fault, and causes damage to your car, his or her insurance will not only pay to fix your car, but they also will pay for a replacement car for you. This is an optional coverage that is often overlooked so that premiums can be kept low on. It can save you hundreds of dollars if your vehicle is in the shop for an extended period of time, due to a covered claim.