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Although a recent study found that Americans own an average of 2.28 vehicles per household, there are plenty of families throughout Wayzata, Minnesota who choose to own just one car for various reasons. Nationwide, approximately 33.8 percent of households in the U.S. own just one vehicle. Whether it’s to save money on car-related expenses or dramatically reducing their environmental footprint, many one-car families are making do with sharing a single vehicle among the entire household.
So how does car rental reimbursement come into play? If you’ve recently been in an auto accident in Wayzata and you only own one vehicle, chances are you’ll need a way to get to work and back while your vehicle is undergoing repairs or, in the case of a total loss, while your insurance provider arranges for a replacement. Car rental reimbursement coverage is an optional auto insurance benefit that can help cover the cost of a rental vehicle under the circumstances.
Car rental reimbursement coverage usually works one of two ways:
- You rent a vehicle from the rental car company of your choice and pay the upfront costs. These costs are later reimbursed after submitting receipts and a claim form to your insurance provider.
- You rent a vehicle from a rental car company approved by your insurance provider. Instead of paying upfront costs, the rental company bills your insurance provider directly.
Most forms of car rental reimbursement coverage feature a “per-day” or “per-accident” limit that varies depending on the insurance company’s own policies. Also keep in mind that this coverage does not cover car rentals that are needed while your vehicle is in the shop undergoing ordinary maintenance or repairs.
You can always turn to your Pizano Insurance for more information on rental reimbursements and other optional insurance coverage for your vehicle. As your independent agent, we can help you build the best auto insurance plan that covers all of the bases.