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Am I a sucker?

Thank goodness the 24hr 39min drive is behind me. As you could see in yesterday’s post, I had a 16′ rental truck with a trailer behind it. I was pretty nervous before the trip as I’m use to driving a little two door couple, not a freakin’ semi. Since my driving record is mediocre at best, I decided to pay for a Budget Truck insurance policy

Here were the plans they offered…

I opted for Plan 1, the limited damage waiver. It set me back $100 and provided coverage for any physical damage to the truck, except the roof and tires. Since the truck is valued at $50,000, I figured $100 for ‘peace of mind’ was in order.

Tthe 1,300 mile trip is over and I’m happy to report the truck is still in one piece. That means Budget just made an easy $100 off me. Ninety-nine times out of a hundred, I’ll decline warranties and insurance plans on rentals/purchases, but I just didn’t want to be on the hook for $50K if something bad happened during the drive. I probably should have checked with my car insurance provider to see if my policy covers rental trucks (something tells me it doesn’t).

Would I pay for the coverage again? Probably. Would I hate every minute of it? You bet your booty I would. Unfortunately, peace of mind trumps my pocketbook in this scenario. Would you have paid the 100 bucks or risked it and declined coverage? When you rent a car do you get the insurance on it? If I declined and got in an accident, they’d sue me if I couldn’t pay the damages…right? Am I a sucker?

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  1. Long time reader, first time commenter. I agree with you. It is better to be safe than sorry. Glad you made it okay.

  2. I have never been in an accident (while I was driving), but I don’t like driving large vehicles, so I would totally opt for the insurance. Better to lose the $100 and have nothing happen than to save it and have to pay for a $50k truck.

  3. At a minimum I would have called your car insurance company to see if they would insure the delivery vehicle with the same services for a better price. Usually the will. In fact, we’ve actually gotten one or two day insurance for free just for asking.

  4. I agree with JT, however I would gladly pay the $100 to avoid a deductible and the associated ding of having an accident on my insurance record. In other words, I would check, but probably do it for the reasons I stated!

  5. I don’t think I’d bother for a short distance, but for the trek you had, I think it was worth it.

    I’ve seen more than one truck like the one you rented split open like a can of sardines with people’s belongings all over the highway. The reality is that people aren’t used to driving those things and it’s far easier to get into an accident than the car you’re used to driving every day.

    I’m glad you got there safely. I hope you can get some rest.

  6. Generally an insurance company won’t cover you if you’re driving that type of vehicle. I always get the insurance when I rent a moving truck.

  7. I’d get the insurance while driving that truck unless you have associated coverage through an employer (sometimes they cover more than just rental autos). It’s a long haul to take chances with.

  8. I was going to give up posting here after the discussion of three days ago, but I do want to express my dismay that you were not covered for the roof or tires. What if you had four blowouts? What if you were driving on the freeway and you were caught in an avalanche which dislodged a 200-pound boulder that caved in the roof of your truck? Stranger things have happened.

    • Larry, I hope you don’t give up commenting here because of the comments from the other day. Heck, I wasn’t even involved. I’d probably cry if you stopped contributing to PDITF. Your comments are usually thoughtful and hilarious. Hope to see you around still.

    • Larry, I look forward to your posts as much as Ninja’s. I find your comments pretty insightful. Leave the inciting comments for me >:)

  9. Defn. Not a sucker.

    Jordan works for a large rental-truck company and he says people NEED to buy the basic coverage insurance otherwise they can get hosed for repairs if they get in an accident (he works in repairs)

  10. I worked at Penske’s call center for a summer, and as a part of training they took you down to the district to show you some of the crazy damage that can happen to the trucks. The best one was someone who wasn’t paying attention to the overpass signs and tried to go through a tunnel that the truck didn’t fit in. It took the roof of the truck straight off.

    I think the limited damage is definitely worth it, unless you have some sort of personal coverage that would cover the truck.

  11. If I wasn’t covered another way (like my credit card or car insurance policy) then I would have paid for it too. I don’t think of it as insuring the truck; I think of it as insuring your savings (because that’s what would be destroyed if something happened)

    • Agreed. Your net worth would be in jeopardy if you skimp on insurance. As much as you have, you do not have enough to self insure 🙂

  12. Looks like pretty much everyone would pay the $100, myself included. When we rent a car, our regular insurance covers the rental; given what some car rental agencies charge for their insurance, I’m sure glad we’re already covered!

  13. I rented a car once and didn’t get the insurance. A rock cracked the windshield while I was driving it. I told the rental agency that I would pay for it out of my pocket but instead they filed a claim with my car insurance company and of course my rates went up. I’m not sure what the moral of the story is.

  14. My credit card covers insurance on rental cars. I would look into whether it would cover a truck as well, but I wouldn’t be surprised.

  15. It is called insurance for a reason lol most people lose the bet otherwise it wouldn’t exist (or it would be more expensive)…way to be ordinary lol

  16. It’s strange that that coverage is even “optional”. It should just be part of the price of renting the truck.

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