Insider's Insurance

Chubb provides coverage for all exposures related to car rentals, anywhere in the world*, including those exposures that are typically not covered by standard automobile insurance policies. Most policies will cover you for liability, and policies that have collision and/or comprehensive coverage will cover you for physical damage to the rental vehicle subject to the deductible. Most standard policies, however, will not cover you for administrative costs, loss of rents while the car is being repaired, and diminished value of the car after the loss. All of these exposures are covered by Chubb under the liability section of their automobile policy. Because the loss will be covered under the liability section of the policy, there will be no deductible as well. If you do not have a Chubb automobile policy, the prudent course of action, when renting a car, is to purchase the collision damage waiver from the rental car company to protect yourself from any uncovered exposures.

* In some countries you may be required to purchase the rental car company’s insurance. In these cases, your Chubb policy will become excess coverage on top of that insurance if necessary.

This entry was posted on Saturday, March 6th, 2010 at 9:56 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.