Budget Rental Car Insurance Review [2024]
Budget rental car insurance includes Loss Damage Waiver (LDW), Personal Accident and Effects (PAE), Supplemental Liability Insurance (SLI), and Emergency Sickness Plan (ESP). If you already have car insurance, Budget rental car insurance may not be worth it. However, if you want extra coverage in case the car gets damaged or you're traveling outside of the country, you may want to consider purchasing Budget rental car insurance.
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Justin Wright
Licensed Insurance Agent
Justin Wright has been a licensed insurance broker for over 9 years. After graduating from Southeastern Seminary with a Masters in Philosophy, Justin started his career as a professor, teaching Philosophy and Ethics. Later, Justin obtained both his Property & Casualty license and his Life and Health license and began working for State Farm and Allstate. In 2020, Justin began working as an i...
Licensed Insurance Agent
UPDATED: Jul 22, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.
UPDATED: Jul 22, 2024
It’s all about you. We want to help you make the right coverage choices.
Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.
Our partnerships don’t influence our content. Our opinions are our own. To compare quotes from top car companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- Budget rental car insurance includes Loss Damage Waiver (LDW) Personal Accident and Effects (PAE), Supplemental Liability Insurance (SLI), and Emergency Sickness Plan (ESP)
- The cost of Budget’s insurance add-ons may be between $7 and $35 per day
- Check your current car insurance policy for rental car coverage. You may not need to purchase any more coverage from a rental car company, but it could be beneficial in some situations
If you’re thinking about renting a car from Budget, you may be wondering if you should pay for rental car insurance. Budget offers a few different plans, so choosing between them may be confusing.
Keep reading below to understand the Budget car rental insurance options, how much they cost, and whether purchasing them is the right option for you.
If you need help finding a car insurance company with affordable rates, enter your ZIP code into our free quote comparison tool above.
What is Budget rental car insurance?
Budget rental car insurance is an add-on policy that you can buy when renting a car. The company provides various car rental insurance options that have different levels of coverage.
The Budget car rental insurance plans include Loss Damage Waiver (LDW), Personal Accident and Effects (PAE), Supplemental Liability Insurance (SLI), and Emergency Sickness Plan (ESP).
Loss Damage Waiver is not technically insurance, but it eliminates your responsibility to pay for damage to the vehicle. In some cases, a rental agreement may indicate that you need to pay some portion of damages, but Budget is generally responsible for paying all damages.
Personal Accident and Effects (PAE) will cover medical, hospital, death, and dismemberment for the renter and passengers if they are in an accident. PAE also covers the loss or damage of personal property. The coverage limits for this plan include:
- $175,000 death and dismemberment for the renter and $25,000 for passengers
- $10,000 accident medical expenses
- $500 per day up to 30 days hospital accident benefit
- $1,000 per item for personal effects coverage up to $3,000
Supplemental Liability Insurance (SLI) provides additional liability coverage for any excess expenses over the amount indicated in the rental agreement. The Budget car rental liability insurance maximum combined single limit is $1 million or $2 million, depending on your location and the vehicle. (For more information, read our “Combined Single-Limit Car Insurance: Explained Simply“).
Emergency Sickness Plan (ESP) covers non-US residents to cover illnesses for the renter and their non-US traveling companions.
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Understanding Budget Car Rental Insurance Costs
When considering renting a car from Budget, understanding the various insurance options and their associated costs is crucial. The Budget car rental insurance cost per day can vary based on the type of coverage you choose.
For instance, the cost of Budget’s LDW (Loss Damage Waiver) is different from the cost of Budget’s CDW (Collision Damage Waiver). The Budget collision damage waiver cost is an essential consideration if you want to avoid paying out-of-pocket for any damage to the rental vehicle. Additionally, the loss damage waiver from Budget can significantly reduce your financial responsibility in case of an accident.
Budget offers various insurance plans to cater to different needs, from basic liability coverage to more comprehensive options. Prices for Budget car rental insurance depend on factors such as the rental location, the type of vehicle, and the selected coverage plan.
If you opt for Budget car rental full coverage insurance, you will have extensive protection, including damage, theft, and personal accident coverage. On the other hand, Budget car rental comprehensive insurance includes broader coverage, providing peace of mind during your rental period. It’s essential to compare the price of Budget car rental insurance with other options to ensure you’re getting the best deal.
Additional Considerations and Customer Experiences
Before finalizing your rental, it’s important to understand Budget’s policies and any potential additional costs. The cost of Budget rental insurance includes various components such as the Budget car rental damage waiver and the Budget car hire excess policy.
The Budget car rental protection plans offer different levels of coverage, which can be tailored to your specific needs. Ensure you are aware of the Budget car rental deposit amount, which may be required at the time of rental.
Customer experiences can also provide valuable insights. While many customers have positive experiences with Budget car hire, there are occasional complaints about Budget car hire services, often related to insurance claims or unexpected charges.
It’s helpful to know the Budget car rental claims phone number in case you need to report a Budget car accident or make a Budget car insurance claim. Understanding the rental car insurance costs and having rental car insurance explained clearly can help you make an informed decision. For those seeking the cheapest car rental insurance, comparing rates and coverage options is essential.
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What are the Budget car rental insurance requirements?
There are specific requirements you must meet to rent a car from Budget. For example, you must be at least 21 years old in most states. However, drivers who are 21 to 24 will have to pay an underage renter surcharge.
You must also present a valid driver’s license and a credit or debit card when you rent from Budget. Depending on your location, a deposit may be required. Budget may also check your driving record to make sure you don’t have any recent serious infractions.
Read more: Can I rent a car without having insurance?
How much does Budget car rental insurance cost?
How much is Budget car rental insurance?
First, let’s look at how much some of the Budget rental car insurance policies cost compared to other rental car companies:
Rental Car Insurance Daily Rates by Company
| Rental Car Company | Loss Damage Waiver (LDW) | Supplemental Liability Insurance (SLI) | Personal Effects Insurance (PEC) |
|---|---|---|---|
| ACE | $15 | $11 | $10 |
| Alamo | $17 | $13 | $12 |
| Avis | $13 | $12 | $11 |
| Budget | $13 | $12 | $11 |
| Dollar | $16 | $11 | $10 |
| Enterprise | $13 | $13 | $12 |
| Hertz | $13 | $12 | $11 |
| National | $17 | $13 | $12 |
| Thrifty | $16 | $11 | $10 |
Read more: Hertz rental Car Insurance Review
In addition to the cost of the Loss Damage Waiver (LDW) and Supplemental Liability Insurance (SLI), Budget’s Personal Accident and Effects (PAE) fees start at $7 per day.
The cost of each of these policies may vary based on the rental location and the type of vehicle you rent.
How do I make a Budget rental car insurance claim?
It’s easy. There are two simple steps to filing Budget car rental insurance claims.
The first thing you need to do is to fill out an accident report. You can do this at a Budget rental location.
After you fill out an accident report, you must send written notice of the claim to the corresponding address.
For Personal Accident and Effects (PAE) and Emergency Sickness Plan (ESP) claims, you can send notice to Health Special Risk Inc., Attn: Claims Department, 4100 Medical Pkwy., Carrollton, TX 75007. You may also call 800-328-1114, option 1.
For Supplemental Liability Insurance (SLI), notice can be sent to Budget Rent-a-Car System, Inc., Attn: Claims, 300 Centre Pointe Dr., Virginia Beach, VA 23462. You may also call 866-446-8376.
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Case Studies: Budget Rental Car Insurance Review
Case Study 1: SafeDrive Insurance Company
In January 2023, Mr. Anderson rented a car from Budget and opted for the insurance coverage provided by SafeDrive Insurance Company. During his trip, he encountered an unfortunate accident, resulting in significant damage to the rental vehicle. Mr. Anderson promptly contacted SafeDrive and initiated the claims process.
The company’s representatives were highly responsive and guided him through the entire procedure. Within a reasonable timeframe, SafeDrive assessed the damages, processed the claim efficiently, and covered the repair costs entirely, demonstrating their commitment to customer satisfaction.
Case Study 2: SureShield Auto Insurance
In March 2023, Ms. Johnson rented a car from Budget and decided to purchase insurance coverage from SureShield Auto Insurance. Unfortunately, she encountered a theft incident where personal belongings were stolen from the rental vehicle. Distressed by the situation, Ms. Johnson contacted SureShield immediately to report the incident and file a claim.
SureShield’s claims team promptly assisted her, providing clear instructions on the necessary documentation. The company efficiently processed her claim and reimbursed Ms. Johnson for the stolen items, showcasing their dedication to customer support and claims handling.
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Case Study 3: Guardian Rental Car Insurance
In May 2023, Mr. Thompson rented a car from Budget and opted for the insurance coverage offered by Guardian Rental Car Insurance. During his rental period, he accidentally scratched the vehicle’s exterior while maneuvering in a tight parking space. Concerned about the potential cost of repairs, Mr. Thompson promptly informed Guardian and initiated the claims process.
Guardian’s claims representatives were professional and guided him through the necessary steps to assess the damage. The company promptly arranged for the repair services and covered the costs, demonstrating their commitment to resolving claims promptly and efficiently.
Is rental car insurance worth the cost?
If you have a car covered by car insurance, you most likely don’t need to purchase insurance from the rental car company. In addition, if you don’t own a car or car insurance, Budget will cover the minimum liability requirements for your state.
If you rent a vehicle for personal travel, your car insurance coverage will likely cover you in an accident. However, if you are traveling for business reasons, you may need commercial car insurance or to be covered by your company.
Suppose your personal car insurance doesn’t include collision or comprehensive coverage. In that case, you may want to purchase a Budget car rental insurance policy that will cover any damages to the vehicle you’re driving.
If you already have liability car insurance, your best option is to purchase a Loss Damage Waiver (LDW) from Budget (or Collision Damage if you’re renting from another company).
You may also want to purchase additional coverage if you are traveling outside of the United States.
Enter your ZIP code into our free quote comparison tool below to get affordable car insurance quotes from companies near you.
Frequently Asked Questions
Does my car insurance cover rental cars abroad?
It depends on your specific car insurance policy. Some car insurance policies include coverage for rental cars abroad, while others do not. Check with your insurance provider to understand the extent of your coverage when traveling internationally.
Does my credit card cover rental car insurance?
Many credit cards offer rental car insurance as a benefit, but the coverage can vary widely. It’s important to read the terms and conditions of your credit card agreement or contact your credit card company to confirm if rental car insurance is included.
Does Thrifty car rental include insurance?
Thrifty car rental does not automatically include insurance in the base rental rate. However, they do offer various insurance options that you can purchase separately, such as Collision Damage Waiver (CDW), Supplemental Liability Insurance (SLI), and Personal Accident Insurance (PAI).
How much does car rental insurance cost?
The cost of car rental insurance varies depending on the rental company, location, type of vehicle, and coverage options selected. On average, it can range from $10 to $30 per day for standard coverage.
What is the daily cost of car rental insurance?
The daily cost of car rental insurance typically ranges from $10 to $30, depending on the coverage options you choose and the rental company.
Is Budget a good car rental service?
Budget is generally considered a good car rental service, offering a wide range of vehicles and competitive pricing. Customer experiences may vary, so it’s recommended to read reviews and compare options before making a decision.
Is Budget a reputable car rental company?
Yes, Budget is a reputable car rental company with a long history in the industry. They are known for their competitive rates and extensive network of rental locations.
Is Budget a reliable rental car company?
Budget is considered a reliable rental car company, providing a variety of vehicles and services. As with any rental company, it’s important to read customer reviews and understand the terms and conditions before renting.
Is Budget auto insurance legitimate?
Yes, Budget auto insurance is legitimate. They offer various insurance products for their rental cars, providing coverage options for different situations.
Is Budget car insurance reliable?
Budget car insurance is generally reliable, offering comprehensive coverage options for renters. It’s important to review the specific terms and conditions of the insurance policy to ensure it meets your needs.
Is Budget car insurance a good option?
Budget car insurance can be a good option if you need additional coverage while renting a vehicle. It’s particularly beneficial for those who do not have comprehensive car insurance or are traveling internationally.
Does Budget offer good car rental services?
Yes, Budget is known for offering good car rental services, including a wide selection of vehicles, competitive pricing, and various insurance options.
How much does Budget insurance cost?
The cost of Budget insurance varies depending on the type of coverage you choose and the rental location. For example, Personal Accident and Effects (PAE) fees start at $7 per day.
How much does Hertz rental insurance cost?
The cost of Hertz rental insurance depends on the coverage options selected. Prices can vary based on the location, type of vehicle, and level of coverage, typically ranging from $10 to $30 per day.
Are Budget rental cars reliable?
Budget rental cars are generally reliable. They offer a wide range of well-maintained vehicles. However, it’s always a good idea to inspect the vehicle and understand the terms of the rental agreement.
Is Hertz rental insurance worth it?
Whether Hertz rental insurance is worth it depends on your personal insurance coverage and the specifics of your trip. If your personal car insurance or credit card doesn’t provide adequate coverage, Hertz rental insurance can provide peace of mind.
Does Budget car rental include insurance?
Budget car rentals do not automatically include insurance in the base rate. They offer various insurance options that can be purchased separately, such as Loss Damage Waiver (LDW), Supplemental Liability Insurance (SLI), and Personal Accident and Effects (PAE).
Does my credit card cover rental car insurance in Costa Rica?
Some credit cards offer rental car insurance coverage in Costa Rica, but this is not universal. It’s important to check with your credit card company to confirm if rental car insurance in Costa Rica is included in your benefits.
How much does Budget rental car insurance cost?
The cost of Budget rental car insurance varies depending on the type of coverage and the rental location. For example, Personal Accident and Effects (PAE) fees start at $7 per day, while other coverages like Loss Damage Waiver (LDW) may have different rates.
What is the deposit amount required for a Budget car rental?
The deposit amount required for a Budget car rental can vary depending on several factors, including the location of the rental, the type of vehicle, and your rental period.
Free Car Insurance Comparison
Enter your ZIP code below to view companies that have cheap car insurance rates.
Secured with SHA-256 Encryption
Justin Wright
Licensed Insurance Agent
Justin Wright has been a licensed insurance broker for over 9 years. After graduating from Southeastern Seminary with a Masters in Philosophy, Justin started his career as a professor, teaching Philosophy and Ethics. Later, Justin obtained both his Property & Casualty license and his Life and Health license and began working for State Farm and Allstate. In 2020, Justin began working as an i...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about auto insurance. Our goal is to be an objective, third-party resource for everything auto insurance related. We update our site regularly, and all content is reviewed by auto insurance experts.