Are you getting the most out of your Rental Reimbursement Coverage?

It’s no secret that vehicle repairs are taking significantly longer due to labor shortages and supply chain issues. Being aware of this delay before you are in an accident can help you save money. Now is the time to rethink rental reimbursement.
 
Rental Reimbursement Coverage is an optional coverage on auto insurance that reimburses you, in most situations, when your car is being repaired and isn’t drivable due to an accident or claim.
 
The coverage itself hasn’t changed. Because vehicles are in shops longer and auto parts are scarce, rental car pricing is increasing and rental car availability is decreasing.
 
Before labor shortages and supply chain issues, 30/900 coverage was considered sufficient. This means you would be reimbursed for up to $30 a day, with a maximum reimbursement of $900. Increasing that coverage to 40/1000 or higher might be something to consider.
 
Next Steps:

• Review your auto policy declarations page to see if you have Rental Reimbursement coverage.

 

• Contact your agent to discuss your current level of coverage and the potential need to increase that coverage.