Rental 350z
03-25-2006, 08:55 AM
#21
Registered User
Join Date: Nov 2005
Location: Allentown, PA
Posts: 82
Likes: 0
Received 0 Likes
on
0 Posts
Ben, just be careful!
Call your insturance company and find out if you have rental coverage. But don't be that guy and say, "If I rent a car, am I covered?" They will always tell you yes. Ask how much you are covered for. Most insurance companies have policies that will work one of the following ways:
1) You are't covered if anything happens in the rental car. Damage it, get sued, get hurt, your on your own. Good luck.
2) Your covered up to the value of your car. Say you drive a Z valued at $30,000. Oops, you total the Gallardo by smashing it into a tree. Nobody sues you, but your responsible for your car. You make a $250,000 claim. Your insurance covers you for $30,000. You get a bill in the mail for $220,000.
3) You pay a ton of money, and your fully covered in the rental car.
However, my recommendation to you, is that you also ask them if its ok if your wife drives the car also.
If the company you rent from has a Damage Waver, TAKE IT! You'll probally pay a few hundred for it, but its better than a $220,000 bill in the mail. The majority of policies are option #2. VERY few will go option #3. Why would an insurance company want to cover you if you total a Lambo? They wouldn't. When I was out in Vegas, I actually called that Exotic Car Rental. There was no Damage Waver option. It relied 100% on your insurance. So find out how much of the car they cover, what happens if someone sues you.
BTW, I work for Hertz. :P
No, your Credit Card will not cover this. Gold, Platinum, whatever. The only one who might even think about covering this, is if your AMX is black. They will cover you if you are in a compact - full size car (most of the time, or equivilent to the car you own), and you must pay for it in full with that car. Meaning if you have an accident, and State Farm pays for the rental, and you use you CC to make the deposit, they will not cover it.
Call your insturance company and find out if you have rental coverage. But don't be that guy and say, "If I rent a car, am I covered?" They will always tell you yes. Ask how much you are covered for. Most insurance companies have policies that will work one of the following ways:
1) You are't covered if anything happens in the rental car. Damage it, get sued, get hurt, your on your own. Good luck.
2) Your covered up to the value of your car. Say you drive a Z valued at $30,000. Oops, you total the Gallardo by smashing it into a tree. Nobody sues you, but your responsible for your car. You make a $250,000 claim. Your insurance covers you for $30,000. You get a bill in the mail for $220,000.
3) You pay a ton of money, and your fully covered in the rental car.
However, my recommendation to you, is that you also ask them if its ok if your wife drives the car also.
If the company you rent from has a Damage Waver, TAKE IT! You'll probally pay a few hundred for it, but its better than a $220,000 bill in the mail. The majority of policies are option #2. VERY few will go option #3. Why would an insurance company want to cover you if you total a Lambo? They wouldn't. When I was out in Vegas, I actually called that Exotic Car Rental. There was no Damage Waver option. It relied 100% on your insurance. So find out how much of the car they cover, what happens if someone sues you.
BTW, I work for Hertz. :P
No, your Credit Card will not cover this. Gold, Platinum, whatever. The only one who might even think about covering this, is if your AMX is black. They will cover you if you are in a compact - full size car (most of the time, or equivilent to the car you own), and you must pay for it in full with that car. Meaning if you have an accident, and State Farm pays for the rental, and you use you CC to make the deposit, they will not cover it.
03-25-2006, 08:57 AM
#22
Originally Posted by nsxster
Ben, I think that is very smart actually.
Most people who own exotics don't drive them very much. Then they still pay for insurance, maintenance, depreciation which go down the drain.
I think it's really smart to rent just once a year if that's all you plan on doing in driving an exotic.
I can tell you I spend around at least that much on maintenance, insurance on your once-a-day rental, but I do drive mine about once or twice a month.
You get the flexibility to try out a lot of different cars that you otherwise wouldn't be able to, and you don't get tied down to the hassles of maintenance and insurance.
Enjoy.
Most people who own exotics don't drive them very much. Then they still pay for insurance, maintenance, depreciation which go down the drain.
I think it's really smart to rent just once a year if that's all you plan on doing in driving an exotic.
I can tell you I spend around at least that much on maintenance, insurance on your once-a-day rental, but I do drive mine about once or twice a month.
You get the flexibility to try out a lot of different cars that you otherwise wouldn't be able to, and you don't get tied down to the hassles of maintenance and insurance.
Enjoy.
03-25-2006, 09:01 AM
#23
I have the insurance thing covered I think. Most places that rent exotics require a larger coverage policy. So what I did is upped my personal coverage to what most car rentals require. It cost me a whopping 5 dollars more a month for the increased coverage. Also with talking with my insurance company, the guy sounded more excited than me that I was renting a Viper. He told me that if I wanted I could cancel my new increased coverage policy once I return the car the next day. USAA rocks. BEN
Last edited by bstansbu; 03-25-2006 at 09:04 AM.
Thread
Thread Starter
Forum
Replies
Last Post
liqalu04
Engine & Drivetrain
31
01-02-2022 12:58 PM
