What is the collision damage waiver offered by rental firms?
The collision damage waiver is a release of your obligation to pay the rental company if the rental vehicle is damaged, as long as you have complied with all the terms of the rental agreement. Rental contracts vary, but generally they require reimbursement up to the full value of the vehicle rented, as well as loss of use and administrative fees in the event of damage to the vehicle. This could amount to $25,000 or more depending on the vehicle rented. Do you need to buy the collision damage waiver? While your North Dakota or Minnesota personal auto policy may provide some coverage for rental vehicles, it does not cover all the obligations you assume by signing the rental contract. You must purchase additional liability and physical damage coverage when you rent a motor home or truck (U-Haul, for example). This type of vehicle is not covered by your personal auto policy. Rental of a pickup or van for business use is not covered by your personal auto policy. By law, North Dakota and Min
