If you are planning to rent your car and make money out of it then make sure that your car has an insurance cover, insurance is must when renting a car. If there is adequate insurance for your own car along with collision and comprehensive, this may be enough for you to rent your car. The collision and comprehensive coverage important for the renting aspect of the car, if you do not have comprehensive collision coverage, then you will not be recovered if your car with your rented is stolen or damaged. So, make sure that you have all the conditions fulfilled before renting your car. The downtown car rental company in Toronto will help you more.
You also need to find out how much insurance coverage you have on your car, most of the times the insurance coverage is very less which implies that your car can only be used for your own pleasure rather than for the business purpose. For knowing about the insurance coverage of your car you can call your credit card company and ask them all your queries. They will tell you everything about your insurance coverage, and you’ll get to know that the level of insurance coverage varies.
Insurance coverages are available to you at car rental counters also.
Personal accident insurance
The personal accident insurance gives you the coverage for yourself and your passengers for medical bills if met with an accident. This insurance coverage is very necessary to have as it helps you in difficult circumstances to meet the medical and financial needs.
Personal effects coverage
If you find any theft of your belongings from your car, then you can get the coverage with the help of personal effects insurance coverage. You can recover the financial loss done to you by the theft of your belonging through this insurance, but the condition is that you should have the receipts or proofs of your belongings with you to claim the insurance coverage.
In some places, you’ll find that personal effects coverage insurance and personal accident insurance are combined given wild in some places they are individually provided. You can also compare the different car rental companies and their insurance policies for getting maximum benefits. The insurance will also depend on the type of car you are renting. If you are planning to rent your car abroad, then you will need an international driver’s license.