Great Question. Since we handle so many insurance companies, I will need to give a general comment, but as we always say…check with us first. Each situation is somewhat unique.
Yes, the current coverage that you have on your vehicle can be used or extended to cover your rental vehicle If you have Comprehensive and Collision Coverages. This means that what your deductible is on your policy, would apply to the rental car if you caused an accident or had a comprehensive claim.
Let me state that this might not be the BEST choice. When I rent a car, I am probably renting it in a town or city that I am not familiar with driving in. This is a caution. I also park my car at my house at night and not in a parking lot at the hotel where no one seems to care if you damage the rental vehicle. But if it is damaged while parked, I would still be responsible for the damage per the rental company agreement.
I will usually purchase the Physical Rental coverage that the rental company offers me. That way, I can bring the vehicle back to the return center and not have to worry about a windshield crack, a hit and run or vandalism, not to mention if I caused an accident.
There would be some paper work I might need to fill out, but not having my insurance company involved can save me premium dollars and can save on paying a deductible if I had a high deductible on my policy. Plus, no hassle with the rental company, even the rental company trying to charge Loss Of Use while the rental vehicle is being repaired. Generally, your policy does not pay for loss of use and the insurance company usually does not try and help you remove this from your bill.
I would ask you to look at your situation when renting a vehicle, how many days you want to rent, what city or location you will be driving, what your deductible is compared to the cost of the rental companies’ charge per day, and even who will be driving.
Please call us with any questions you may have concerning your coverage!