Neither auto insurance policies nor credit cards usually cover the rental of trucks or trailers. If you use a rental truck to move, we recommend that you take out additional insurance through your truck rental company. Buying coverage from your truck rental company will provide you with the protection and peace of mind you need when you move. The last thing you want is to hit or be hit while you're moving.
It depends on the truck rental company, but whether or not they force you to buy rental insurance, you should definitely do so. U-Haul offers customers the option to purchase auto insurance if they damage the rented truck while driving it. Determining if you need insurance can be complicated, but it doesn't cost much as long as you move everything in one day. Whether your policy covers truck rental or not, you should consider taking out supplemental insurance.
Truck rental agencies sell specific policies. The damage exemption, if you decide to buy it, will exempt you from any damage that the truck suffers during the rental period, whether it is considered your fault or not. The personal finance website also notes that “the rental benefits offered by Visa exclude all trucks and vans with capacity for more than eight people. The four main types of rental truck insurance include damage exemptions, additional liability insurance, personal accident and cargo protection, and protection against car towing.
The contract or rental contract for a moving truck usually includes your state's minimum liability coverage, which is usually quite low, and that's all. The last thing you want is to have to pay for damage to a rented truck caused by another reckless driver. Most truck rental companies offer customers a menu of types of coverage designed to protect you and your belongings during a self-made move. Even if you have some coverage in your auto insurance policy, you should understand how the moving truck rental company handles accidents.
Finally, the truck rental company can offer you medical coverage that will cover any medical expenses you incur as a result of an accident. Check your personal homeowners insurance policy and your auto insurance policy before buying rental truck insurance. Most truck rental companies offer coverage options to ensure your peace of mind, and most are available on an individual basis. U-Haul, the moving truck rental company, estimates that nearly 45% of all removals occur between Memorial Day and Labor Day.
While an auto insurance policy may cover the typical rental of a car, the same cannot be said for renting moving trucks.