What Is Rental Car Insurance and Do You Need It? + MORE Aug 17th

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When travelling for work or vacation, you may decide that the best way to get around is by renting a car. But finding the right vehicle for your trip isn’t the only decision you’ll need to make. Another important consideration is car rental insurance. But how exactly does it work, and how much will you need? In this article, I’ll explain how rental car insurance works and help you figure out what coverage you need.
What Is Rental Car Insurance?
There are no less than four types of rental car insurance that can protect you when you rent a vehicle. You can purchase coverage directly from the rental car company, or from another provider. You may even have existing coverage through your credit card or auto insurer.
Let’s take a look at how each type of coverage works:
Loss Damage Waiver (LDW)& Collision Damage Waiver (CDW)
A Loss & Collision Damage Waiver is not an actual insurance policy. You are paying for the car rental agency to waive its right to come after you for loss or damages in the event of an accident, fire, theft etc…

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August 17 Update: New Amex offers for Burberry, Lululemon, The Chesterfield Shop, More details on the Walmart World Mastercard and last day to grab the HSBC World Elite 60K+FYF offerA trio of new offers are available as part of the Amex Offers program. Check your card accounts to see if you have been targeted for these. The offers are from Burberry (we received it on Marriott Bonvoy American Express Cards and The Platinum Card), the Chesterfield shop (not sure which cards, this is on Amex’s general shopping page) and Lululemon (we received it on the American Express Cobalt Card and The Platinum Card). You can find these and all other current offers on our Guide to American Express Canada ‘Amex Offers’  An update to follow up on our post from Friday about the new Walmart Rewards World Mastercard. Walmart Financial let us know the card will have the same welcome bonus of $25 as the base card and provided the card art as to what the card will look like. Learn more here. And a reminder! Today is the last day to get HSBC World Elite Mastercard offer of up to 60,000 points with the first year annual fee waived. Apply for the card here. Airline Schedule Updates A summary Canadian operations based on data from RoutesOnline and other sources…

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