It’s time to move. You thought about hiring movers but decided it would be better to grab some friends and rent a truck. Just add some pizza and beer and that’s it, right? Not exactly. When you go to pick up the moving truck, they ask if you would like to buy their insurance.
Here is why you should.
Unless you drive huge trucks regularly, that rented moving truck is a lot larger, heavier, and handles differently than you are used to—even your depth perception will be way off! Your likelihood of getting into a fender bender drastically increases. While your personal Auto liability coverage automatically will extend to this vehicle, if the gross net weight is less than 10,000 lbs (it doesn’t extend if it weighs more), you should consider other factors.
By purchasing the insurance policy the truck rental place offers, you don’t have to worry about your personal policy’s exclusions or having your personal policy’s premiums spike after a claim. Most rental policies’ Liability and Uninsured/Underinsured limits are $1,000,000 per person, up to $1,000,000 per accident.
If you are involved in a crash, you are responsible to pay for (1) the damage done to the truck you rented, (2) the loss of income the truck rental company will experience while that truck is getting fixed, and (3) damages to whatever you hit. Parts are not as readily available as the average auto, so fixing moving trucks can take a long time, and the rental company is probably not in a rush to fix it because you’re paying for the truck while it’s out of commission.
By purchasing the insurance policy the truck rental place offers, you don’t have to worry about a thing. Drop the keys on the service desk. You can let the insurance company pay for 1, 2, and 3, and walk away.