Consider renting an exotic car for your next trip. Well, that is a good plan but do remember to get an insured rental car to be on the safe side. Though many car rentals have already gotten their high-end, expensive cars insured, you should also know about your insurance options for exotic car rentals so that you know what is covered and what is not. It will also make your payments more transparent. But first, let’s look into why we need this insurance.

Why do we need insurance for Exotic Car Rentals?

Imagine yourself driving down the Pacific Coast Highway in a Lamborghini Huracan Spyder LP 610. The wind is blowing your hair, the sun on your face. But then you get thrown into a loop when you hit a pothole. Damage costs could be extremely high if you don’t have the proper insurance. Therefore, getting rental car insurance is a must to have a pleasant and worry-free rental experience. You will not have to pay a fortune in case any accident or theft happens. The insurance company will be responsible for this. Better be safe than sorry.

Insurance Options For Exotic Car Rentals

When renting an exotic car from any car rental company make sure to know what kind of insurance are they using to secure their cars.  Also, what added insurance you will need for your luxury rental car?

What car insurance do I need for car rental in the USA?

1. Liability Insurance

Getting liability insurance for your exotic car rental is a must. This insurance covers the damage caused to your expensive car and any other people or their property. In case you have injured someone or damaged someone’s property, the insurance company will pay for all of that. Washington, being metropolitan, is always full of people, so you should never get a luxury rental car without liability insurance.

2. Collison Damage Waiver (CDW)

It is not fully blown insurance but rather a small waiver that protects you from paying for any damage caused during an accident or otherwise to the exotic rental car. It is very beneficial for renters who want to experience off-roading or drives in crowded city centers. They will not have to pay for any damage as the insurance company will cover it up. 

3. Loss Damage Waiver (LDW)

LDW is just like CDW, but you get an added benefit in it that in case your rental gets stolen, the company will pay the whole price of that exotic car. It is beneficial to get it if you are planning to travel to areas that are not very secure or want to explore the shabby side of the town. Thefts also increase during the holiday season as many tourists only care for their belongings a little. So, getting LDW is a good option for both the rental company and the renter.

Additional Insurance Options For Luxury & Exotic Car Rentals

Though everything is covered by the above insurances, in case you want to be extra careful and don’t want to take any risk with your exotic and luxury car rental, then get Personal Accident Insurance and/or Supplemental Liability Insurance. 

Personal Accident Insurance covers your hospital bills if you are injured in an accident, and in case you become dialed or die during any accident, the insurance company will cover it.

Supplementary Liability Insurance (SLI) guards against potential harm to other drivers and vehicle damage caused by you. In many nations, car owners or rental firms are required to offer this “third party” protection. 

Do you need extra insurance when renting a car in the USA?

Your Personal Auto Insurance also sometimes covers car rental insurance. 

• Check with your provider. Contact your insurance to see if your policy covers exotic car rentals. Some policies may have limitations or require extra endorsements.
• Rental Car Coverage: If your policy includes liability, collision, and comprehensive coverage for rental automobiles, it will often provide equal protection to your vehicle.

Sometimes, you get outstanding offers from third-party insurance providers. 

• Specialized Coverage: Some companies offer specialized insurance policies for tourists, including rental car coverage. These plans may include additional advantages like roadside assistance and emergency medical expenditures. 

Pro Tip: Many premium credit cards include rental car insurance as a perk. This can be especially useful when renting exotic cars, as it may cover crash damage and theft. However, given there may be exclusions or cap limitations, it is important to confirm that this coverage applies to premium vehicles.

Related topic: How To Market Your Car Rental Business Successfully?

In A Nutshell

Renting your dream luxury car is a good way to make any occasion more special. But not to get any unpleasant surprises and for your peace of mind, consider the abovementioned insurance options for exotic rental cars. Capital Exotic’s rental car insurance is very transparent and easy to understand. Call us now to get a customized quote for your exotic and luxury car rental insurance.

FAQs

Q1. Can you get car insurance in the US with an international license?

Yes, you can get car insurance with an international license in the USA. but many factors affect it. Get in touch with your insurance company to get more details.

Q2. Does Canadian car insurance work in the USA?

Your Canadian car insurance will only be valid for the first six months in the USA. Within that time, you will be required to get a USA driver’s license and auto insurance.

Q3. Can I rent a car with an international driver’s license in the USA?

Yes, you can rent a car in the USA with your valid driver’s license. However, you will have to provide your passport with the same name as additional identification.

Q4. How much is car rental insurance in the USA?

Luxury car insurance can cost you anywhere between $31-$60 per day. But the actual price depends upon the car you are renting, the company, and the area.