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Many drivers don't think
about their insurance coverage until after they have an accident and
call their insurance company to file a claim to help pay for car
repairs, a rental car and other expenses.
Unfortunately, many insured drivers are surprised to find out that their
auto insurance does not automatically cover the cost of a replacement
rental car after an accident. Since the average car is in the repair
shop for two weeks after an accident, it can cost as much as $500 to
rent a replacement car. But, some insured drivers pay little or nothing
to rent a car because of an inexpensive but often overlooked option
known as rental reimbursement.
Rental reimbursement coverage is available for only $1 or $2 a month
with almost every auto insurance policy, but it is bypassed frequently
by those who believe they will not have a car accident or those shopping
only for the lowest cost premium. The cost of a rental replacement car
adds up fast, so even if you don't have an accident for eight or nine
years, the coverage pays for itself when you need it most.
Sometimes working out the details of a claim with the auto insurance
company can take time. Even if the accident is the other driver's fault,
you may have to wait several days or longer to get the other insurance
company to agree to pay for a rental car. With your own coverage, there
is no waiting.
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