For many people, renting a car is a way of life, especially if they do a lot of traveling and can't bring their own cars. But it's not a good idea to purchase rental car insurance on the spur of the moment, just when you're about to get the car's keys from the rental agency's counter. It's important to plan ahead before renting a car, and an essential part of this process is reading one or several rental car insurance guides before you set out on that road trip.

There are many car rental companies in the United States and in other countries, and the insurance packages they offer can vary widely. But what they all have in common is the ability to save you a lot of money and trouble if ever you are involved in an accident that may or may not have been your fault. And even if you already have pre-existing personal liability coverage, car rental insurance is still a must in many cases. For instance, if you are traveling to other countries, such as Mexico, you would need Mexican insurance because your own insurance would not be recognized there. And in many European countries, any car you rent would include the cost of liability coverage that is required by law.

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Many a rental car insurance guide will tell you that you can get substantial financial protection if you buy additional liability coverage from a car rental company. This insurance will cover you in the event you cause an accident and inflict damage on property or injure other people. And one of the good things about car rental insurance is that it becomes the primary insurance when you drive a rented car; your own personal insurance will kick in only when the rental insurance's limits have been reached.

You can also avail of accidental death insurance or personal property insurance offered by rental car companies. In the event that you die while you are renting the car - even if you're not using it - the insurance payment is given to your beneficiary. And if certain items are stolen from your car, you may recoup your losses through insurance compensation.

Another helpful financial protection product from car rental companies is the waiver. These are not insurance policies per se, but they function the same way. These waivers, called loss damage waiver (LDW) and collision damage waiver (CDW), will cover you if the car you are renting is stolen, vandalized, or damaged in any other way.

These and many other types of insurance (such as those made available by credit card companies if you charge your rental to your credit card account) can be learned about in a good rental car insurance guide. Such a guide can also help you determine the kind of insurance you need to buy, both to save money and to maximize coverage efficiency.

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