Agreement For The Waiver Of Claims For Diminution In Value Of Property: Fill & Download for Free

Differentiating American Express Rental Car coverage and that offered by Hertz Rent-a-Car (or any car rental company), involves comparing an insurance contract with the waiver of liability for damage to the vehicle by the rental car company.This post is longish and provides coverage insights into both the AMEX and Hertz programs. For what I would identify as the main difference, scroll to the bottom.BASIC COVERAGES AMERICAN EXPRESS OFFERS:American Express BASIC Cards (Green , Gold , One , Zinc ):Physical Damage Coverage as Excess over other collectible insurance.American Express PLATINUM (Platinum , Business Platinum )Excess Medical Expenses - $5,000 of coverage per person, $200,000 accidental death to cardholder, $20,000 to passengersPhysical Damage Coverage as Excess over other insurance.Excess Coverage means that your Personal Auto Policy will respond first. That is les than the best scenario. You can make your American Express rental car coverage Primary, by enrollment in:AMERICAN EXPRESS PREMIUM RENTAL PROTECTIONAmerican Express allows all cardholders to sign up for their "Premium Car Rental Protection" program. The Premium CRP program costs a flat $12,25 to $24.95 per rental, and includes:Primary Theft and Physical Damage coverage to the rental carExcess Medical Expense Benefits of $7,500 per personAccident Death & Dismemberment Coverage with limits of $75,000 for the cardholder and $7,500 for passengers$2,500 of secondary Personal Property coverageThis program’s value lies in coverage provided on a primary basis, allowing you to submit claims for damage to your rental car:Without buying the Rental Car Company’s Collision Damage Waiver - and -At a much lower cost than the CDW sold by the car rental company at the counter.Key difference: Decreases the potential of a physical damage incident to the rental car from negatively affecting your Personal Auto Policy premium.For a list of exclusions to this program see this postHertz Damage Waiver:Hertz offers two types of Damage Waivers for their customers:Limited Waiver (LLDW) - this provision waives $1,000 of damage to the rental car. Limited waiver is meant to appeal to those who may have other coverage in place subject to a deductible.Loss Damage Waiver (LDW) - this waives all liability for damage to the rental vehicle including diminution of value and other fees, subject to a few exclusions.The prohibitions mentioned in paragraph 5 of the rental agreement include events such as: Unauthorized operators, intentional destruction, driving outside the US or Canada, reckless conduct, drug use or intoxication. These actions can be found excluded by other insurance programs as well.New York Personal Auto Policyholders: A unique Rental Vehicle Endorsement is provided to anyone who holds a NY Personal Auto policy. See more information on that here.Big Difference between AMEX coverage and Hertz Loss Damage Waiver:Big Difference Bottom Line - Hertz Loss Damage Waiver will waive diminution of value and other fees that they may charge following an accident with their rental car. Some of these additional charges are excluded on the AMEX programs.Thanks for the A2A.

What are the best ways to get rental auto insurance when I do not own a car?This long answer covers the EASIEST and BEST solution for someone who does not own a car and is without a personal auto policy. Without the ability to plan ahead, the Easiest solution may BE the Best solution.EASIEST SOLUTION: Buy ALL THREE major insurance options that most rental car companies offer when you sign their contract:Damage WaiverSometimes called Physical Damage Waiver, Collision Damage Waiver. Loss Damage Waiver. The waiver puts the responsibility for damage on the rental car itself squarely on the rental car company. (coverage for the rental car itself)Supplemental Liability CoverageProvides you coverage for damage or injury to others for which you are responsible/negligent. (third party coverage)Personal Accident InsuranceProvides a limit (low as it may be) of coverage for injuries following an accident with a rental car. (first party benefits)In the past I have simply bought 3rd party liability insurance from the rental company, and relied on my credit card to cover the damage to the rental car. It ends up costing $15 - $25/day for the insurance. Is there a better way?LIABILITYLIABILITY Best Option: Named Non-Owner Auto PolicyMost states allow for the purchase of a Named Non-Owner Auto Insurance policy. A Search for "Named Non-Owner Auto Insurance Quote in YOURSTATE" will yield the players in that arena. (this answer is curiously missing from other posts?)Important Note: A Named Non-Owner Auto Policy issued in the state you live, will provide all the mandatory coverages the state requires. In addition to Liability coverage, this may also include: Personal Injury Protection, Medical Payments and Uninsured Motorist Coverage.LIABILITY Car Rental Company Option: Supplemental Liability Coverage (Rental Car Company Offering)Car Rental companies must provide as part of the rental contract, at least the state minimum liability coverage where you operate the vehicle. These minimum required limits can be very low (IE: $25,000 per person bodily injury, $10,000 property damage liability)Know the limit of coverage that is provided with the "Supplemental Liability" option. Some rental car agreements start this coverage at a lower limit and offer enhanced limits at an additional cost.DAMAGE TO THE RENTAL CAR:CREDIT CARDS: Some Credit Cards provide coverage for physical damage to the rental car itself, or first party medical expense/accident type of coverage, but they do not provide Liability Coverage.American Express may provide some of the most generous benefits (especially on their higher end cards where they may provide medical expense and accidental death coverage.) but it is customary that Credit Cards coverage is "excess" (say secondary) over other collectible insurance.Coverage provided by Credit cards can be fraught with exclusions.Here is a copy of the Amex Green card policy. (excess)Here is a copy of the Amex Platinum card policy. (excess)Here is the page you can find the VISA benefits.Bottom line... don't assume. Know the actual coverage your credit card provides. More info on Premium Cards below.NOTE for those WITH an Auto Policy: American Express Offers Premium Rental Benefits on some of their cards with Primary Physical Damage coverage for a flat fee ($19.95) PER rental. You can sign up here.NOTE 2: Credit cards may not provide coverage for Diminution of Value claims.A LIABILITY SOLUTION FOR FREQUENT USERS OF RENTAL CARS:NAMED NON-OWNER AUTO POLICY: A Named Non-Owner Auto Policy and it can provide the following coverage parts (This depends on the coverages required and available in your state):Bodily Injury Liability - Provides compensation for injury to others for which you are negligent.Property Damage Liability - Provides compensation for damage to property of others (other cars, structures) for which you are negligent.Uninsured/Underinsured Coverage - Liability coverage in reverse. compensation for you and others in your car if the other vehicle/driver does not have liability insurance, or lower limits of liability insurance.Personal Injury Protection (in some states) - First party benefits for you and others in your car for your medical expenses regardless of who is at fault (sometimes called "no-fault").NO COMPREHENSIVE OR COLLISION: A Named Non-Owner policy provides coverage for most types of losses EXCEPT for the Physical Damage to the Rental Car itself.BETTER AND BEST OPTIONS FOR SOMEONE WHO DOESN’T OWN A CAR BUT RENTS FREQUENTLY:BEST: A Named Non-Owner Auto Insurance Policy PLUS Purchasing a Damage Waiver. - or -BETTER: A Named Non-Owner Auto Insurance Policy PLUS a Credit Card with a Rental Car Physical Damage policy/coverage. (less expensive than option #1 above for frequent car renters)This option is attractive because of the low/no cost of the physical damage piece, but as mentioned above, know your card's terms and conditions.NOTE for people who own a car with a standard Auto Policy: Want peace of mind that the rental car company won't come back on you or your auto insurance for damage to the vehicle? Credit cards that offer primary physical damage coverage are out there. It will take some research, but here are some sources to find such a card:What Options for Rental Car Coverage does American Express Offer?Credit Cards That Offer Primary Car Rental CoverageCredit Cards With Primary Rental Car Insurance | Million Mile SecretsNOTE 2: Credit cards may not provide coverage for Diminution of Value claims.If you live in and have an Auto Policy in New York State... the rules are a bit different. Here is the straight and skinny on Rental Car Insurance Coverage in New York.Hope that helps. Excellent Question!

This question has been asked a couple of different ways on this forum.Here is an answer that pertains to the question from one of my previous posts:This long answer covers the EASIEST and BEST solution for someone who does not own a car and is without a personal auto policy. Without the ability to plan ahead, the Easiest solution may BE the Best solution.EASIEST SOLUTION: Buy ALL THREE major insurance options that most rental car companies offer when you sign their contract:Damage WaiverSometimes called Physical Damage Waiver, Collision Damage Waiver. Loss Damage Waiver. The waiver puts the responsibility for damage on the rental car itself squarely on the rental car company. (coverage for the rental car itself)Supplemental Liability CoverageProvides you coverage for damage or injury to others for which you are responsible/negligent. (third party coverage)Personal Accident InsuranceProvides a limit (low as it may be) of coverage for injuries following an accident with a rental car. (first party benefits)In the past I have simply bought 3rd party liability insurance from the rental company, and relied on my credit card to cover the damage to the rental car. It ends up costing $15 - $25/day for the insurance. Is there a better way?LIABILITYLIABILITY Best Option: Named Non-Owner Auto PolicyMost states allow for the purchase of a Named Non-Owner Auto Insurance policy. A Search for "Named Non-Owner Auto Insurance Quote in YOURSTATE" will yield the players in that arena. (this answer is curiously missing from other posts?)Important Note: A Named Non-Owner Auto Policy issued in the state you live, will provide all the mandatory coverages the state requires. In addition to Liability coverage, this may also include: Personal Injury Protection, Medical Payments and Uninsured Motorist Coverage.LIABILITY Car Rental Company Option: Supplemental Liability Coverage (Rental Car Company Offering)Car Rental companies must provide as part of the rental contract, at least the state minimum liability coverage where you operate the vehicle. These minimum required limits can be very low (IE: $25,000 per person bodily injury, $10,000 property damage liability)Know the limit of coverage that is provided with the "Supplemental Liability" option. Some rental car agreements start this coverage at a lower limit and offer enhanced limits at an additional cost.DAMAGE TO THE RENTAL CAR:CREDIT CARDS: Some Credit Cards provide coverage for physical damage to the rental car itself, or first party medical expense/accident type of coverage, but they do not provide Liability Coverage.American Express may provide some of the most generous benefits (especially on their higher end cards where they may provide medical expense and accidental death coverage.) but it is customary that Credit Cards coverage is "excess" (say secondary) over other collectible insurance.Coverage provided by Credit cards can be fraught with exclusions.Here is a copy of the Amex Green card policy. (excess)Here is a copy of the Amex Platinum card policy. (excess)Here is the page you can find the VISA benefits.Bottom line... don't assume. Know the actual coverage your credit card provides. More info on Premium Cards below.NOTE for those WITH an Auto Policy: American Express Offers Premium Rental Benefits on some of their cards with Primary Physical Damage coverage for a flat fee ($19.95) PER rental. You can sign up here.NOTE 2: Credit cards may not provide coverage for Diminution of Value claims.A LIABILITY SOLUTION FOR FREQUENT USERS OF RENTAL CARS:NAMED NON-OWNER AUTO POLICY: A Named Non-Owner Auto Policy and it can provide the following coverage parts (This depends on the coverages required and available in your state):Bodily Injury Liability - Provides compensation for injury to others for which you are negligent.Property Damage Liability - Provides compensation for damage to property of others (other cars, structures) for which you are negligent.Uninsured/Underinsured Coverage - Liability coverage in reverse. compensation for you and others in your car if the other vehicle/driver does not have liability insurance, or lower limits of liability insurance.Personal Injury Protection (in some states) - First party benefits for you and others in your car for your medical expenses regardless of who is at fault (sometimes called "no-fault").NO COMPREHENSIVE OR COLLISION: A Named Non-Owner policy provides coverage for most types of losses EXCEPT for the Physical Damage to the Rental Car itself.BETTER AND BEST OPTIONS FOR SOMEONE WHO DOESN’T OWN A CAR BUT RENTS FREQUENTLY:BEST: A Named Non-Owner Auto Insurance Policy PLUS Purchasing a Damage Waiver. - or -BETTER: A Named Non-Owner Auto Insurance Policy PLUS a Credit Card with a Rental Car Physical Damage policy/coverage. (less expensive than option #1 above for frequent car renters)This option is attractive because of the low/no cost of the physical damage piece, but as mentioned above, know your card's terms and conditions.NOTE for people who own a car with a standard Auto Policy: Want peace of mind that the rental car company won't come back on you or your auto insurance for damage to the vehicle? Credit cards that offer primary physical damage coverage are out there. It will take some research, but here are some sources to find such a card:What Options for Rental Car Coverage does American Express Offer?Credit Cards That Offer Primary Car Rental CoverageCredit Cards With Primary Rental Car Insurance | Million Mile SecretsNOTE 2: Credit cards may not provide coverage for Diminution of Value claims.If you live in and have an Auto Policy in New York State... the rules are a bit different. Here is the straight and skinny on Rental Car Insurance Coverage in New York.Thanks for the A2A