Finance expert Mike Periu on whether an insurance policy is a wise purchase when renting a car.
Should I Buy Insurance When Renting a Car?
You may be among the millions of consumers who will be renting a car over the Thanksgiving holiday. One of the most expensive parts of renting is insurance policies that rental car companies offer, which can easily double or triple the cost of your rental. Before automatically saying yes to these policies, you should first call your own insurance company and confirm if you and the rental car are covered under your own policy. If you have comprehensive and collision coverage, this usually transfers over to your rental car. For liability insurance, a wise option if you rent frequently is to consider an umbrella policy which protects you under many different scenarios and offers more protection than the liability policy offered at rental companies.
About small business finance expert Mike Periu
Mike Periu has experience in small business finance. He founded Proximo, LLC a company that offers consumer and small business training services focused on technology and money.
Mike Periu teaches individual empowerment through entrepreneurship and financial literacy. He has appeared 500+ times on television and radio. Visit the Reach and Media pages of his website to learn more about where he has appeared.
You can read more of Mike’s articles on his blog or at American Express OpenForum, Yahoo! Finanzas and the Huffington Post.
Mike has a degree in International Business and Finance which he received at Georgetown University in Washington, DC. He received a Fellowship from the Kauffman Foundation for the Labs for Enterprise Creation program in Kansas City.
