Hiking, mountain biking, or skiing, name it, and Colorado just unwinds them right in front of you. Driving around and exploring one of the most beautiful states in the country can be conveniently carried out by renting a car. In Colorado, rental car insurance is not legally required. However, rental car companies may offer insurance coverage. But should we purchase rental car insurance in Colorado? What should you keep in mind while purchasing rental car insurance in the state? Here are the things you should know about Colorado rental car insurance laws.
Should I purchase car rental insurance in Colorado?
To make the short visit to the state a safe and hassle-free one, you should sign up for rental insurance. Since car rental insurance is not mandatory in the state, getting the insurance is totally up to the renter. Therefore, if you do not opt for rental car insurance, you will be responsible for any damages caused during the period.
However, your personal auto insurance policy may provide coverage for a rental car. In the same vein, you should check with your car insurance provider if they provide any coverage for the same. Similarly, the renter’s credit card, used to pay for the car rental, may provide rental car insurance. However, you will have to check the terms and conditions of the credit card for more information.
What are the requirements for renting a car in Colorado?
The requirements for renting a car in Colorado differ according to the car rental companies. For example, the mileage and fuel policies, like full-to-full fuel or same-to-same fuel, while renting and after dropping the car. However, the driver requirements are the same with most companies. Firstly, you must be at least 21 to rent a car in Colorado. Secondly, you’ll likely be charged an additional young driver fee if you’re under 25.
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Which are the most popular car rental companies in Colorado?
How much does Colorado car rental insurance cost?
Depending on which insurance company you choose, the daily cost of rental car insurance in Colorado can range anywhere from $48 to $60. Hertz charges $60 per day, which is significantly higher than the rates of Avis and Enterprise, charging $57 and $48 per day. However, if you are renting a car in Colorado in the peak season, it can spike over $110.
What are the types of insurance coverage by Colorado rental car companies?
Minimum Liability Insurance
As a standard part of their rental agreements, car rental agencies in Colorado are required to offer customers the minimum liability insurance coverage that is mandated by the state. They offer bodily injury liability insurance coverage of $25,000 per person and $50,000 per accident, in addition to property damage liability coverage of $15,000 per accident.
Collision and Comprehensive Coverage
The additional coverage from your personal auto insurance policy, such as collision and comprehensive or higher liability limits than the minimum required by your state, will carry over to your rental vehicle. However, suppose you are concerned about not being adequately protected in the event of an accident, and you do not have your own auto insurance coverage. In that case, purchasing additional coverage from the rental company may be a good idea.
Collision Damage Waiver
For instance, you can buy a collision damage waiver, which gives you the same kind of coverage as collision and comprehensive insurance. In other words, it will cover the damages to the rental car if you’re involved in an accident. In addition, you can purchase additional coverage that boosts your existing liability and medical payment limits.
Non-owner Liability Policy
A non-owner liability policy could be an option if you don’t own a car and rent cars frequently. It will pay for any damages you cause to another driver while you are operating a vehicle that is not your own.
It is important to remember that rental car insurance can be costly. In addition, renters should be aware that the insurance provided by the car rental company may have deductibles and limits that affect the level of coverage.
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Can the renter’s credit card provide rental car insurance in the state?
Yes, credit cards can provide rental car insurance in Colorado. However, it completely depends on the credit card company. Make sure you check with the credit card company for the details, and the amount of coverage will depend on the bank. Sometimes, the coverage may be small or considered secondary as well.
Therefore, while rental car insurance is not required by law in Colorado, it is still a good idea to consider purchasing it or checking the coverage provided by other sources to ensure that you have adequate protection while using a rental car.