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Collision Damage Waiver Rental Car Insurance – How to Get a Collision Damage Waiver

Tips

A collision damage waiver will be a must-have for anyone that is involved in a minor traffic accident. In most cases, these waivers are also offered at the scene of an accident, but in the event of an accident with an injury, you should make sure that you have a copy.

Basics

If you are not familiar with this type of policy, this can be quite confusing, but it will make things much simpler to understand. When you get into an accident, you should contact your insurance company and let them know what happened. They will then review your policy and see what their requirements are for coverage.

You will also need to make sure that you write down everything that happens, including the name of the other driver, the date and time of the accident, who caused the accident, and when the insurance company received the claim. This information is very important. In some states, it is also necessary to give the name of your insurance company.

When you give this information to your insurance company, they will ask that you sign a form. At this point, you will have waived your rights to sue for compensation if you are found responsible for the accident. However, you will still need to submit proof of insurance or your policy will be cancelled. Make sure that you get a copy of your car insurance policy before you sign the form.

The next thing you will need to do after you receive your collision damage waiver is going to the police station and sign a release. This is a legal document which allows the other driver to take you to court and file a claim for damages. Make sure that you tell the officer that you have received this document and that it covers any damages to the vehicle that were caused in the accident. Make sure that you keep a copy of this form with you in case you need to use it later on.

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Once you have signed your release, the other driver must either call or visit their insurance company. Usually, this is done the day after the accident. At this point, the insurance company will evaluate the damage and decide whether they will pay for the damages or not.

You need to make sure that you follow through with this agreement. Make sure that you follow up with them to make sure that they have indeed paid the claim. If they have not, call them back so that you can make arrangements for your vehicle to be repaired. If you do not follow through you may have to pay the damage yourself.

Benefits

A collision damage waiver is a great way to avoid paying thousands of dollars for the repair to your car, and it should be taken advantage of. Take the time to read the agreement thoroughly and find a reputable insurance company to work with.

There are many insurance companies out there that do not want to pay out a lot of money when there is an accident. So when an accident happens they offer a waiver so that you do not have to pay all of the damages. They will still cover some of the expenses, but it will leave you with some of the cost of the repairs.

Alternatives

Another option is to buy liability insurance. You can purchase this type of coverage if you own a personal vehicle. However, the majority of individuals that are involved in an accident will not want to buy liability insurance because it can cost them a lot of money. Therefore, most will choose a collision damage waiver over purchasing liability insurance.

To get the best deal on a collision damage waiver you will want to look into the details of the insurance company you choose to purchase this from. Make sure that they have all of the proper paperwork that is required for you to have to get the most out of this type of insurance.

After receiving your collision damage waiver, make sure that you follow up with the company. You need to follow the terms and conditions listed in the document. If you do not follow through you may end up with a lot of added expenses to your car repair bill.

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