The next time you rent a car, you should seriously consider purchasing the collision damage waiver. You might think the cost is prohibitive, but the risks of not purchasing the waiver are likely greater than you think.
Assume for a moment that you’ve rented a car and you’re then involved in an accident while driving that car. You may be liable for the damage done to that car. Most people realize this. But what many don’t realize is that you may also be liable for the rental company’s “loss of use”. In other words, while the rental car is being repaired, it is unavailable for rent. Which means the rental company loses the revenue that car would typically generate. If the repair time is longer than expected, this could add up to a huge out of pocket expense for you.
So, the next time you’re renting a vehicle, think carefully about what you’re willing to risk financially. Purchasing the collision damage waiver could end up saving you a lot of money in the long run.