GITNUX MARKETDATA REPORT 2024

Rental Car Insurance Coverage Duration Statistics

The average duration of rental car insurance coverage is approximately 4 to 7 days.

With sources from: autoslash.com, insure.com, insuremytrip.com, insurance.com and many more

Statistic 1

On average, a rental car company's insurance will typically cost between $10 to $30 per day.

Statistic 2

Rental car insurance typically covers for periods of 31 days or less, as per the most insurance company policies.

Statistic 3

Approximately 21% of people always purchase insurance from rental companies.

Statistic 4

86% of travelers neglected to buy insurance because it's 'too expensive' or 'unnecessary'.

Statistic 5

VISA offers 15 days of coverage in your own country, and 31 days of coverage internationally.

Statistic 6

On average, drivers in their 20s paid $15 a month more for their car rental insurance than drivers aged 30 and above.

Statistic 7

Only 48% of credit cards provide global coverage on rental cars.

Statistic 8

20% of people who purchased rental car insurance regretted it afterward.

Statistic 9

64% of renters declined rental car insurance because they are already covered by their credit card benefits.

Statistic 10

56% of renters are not fully aware of their rental car insurance coverage which leads to unnecessary upgrades.

Statistic 11

Premiums for rental car insurance bought from the vehicle rental firm can be anywhere between $20 to $40 a day.

Statistic 12

84% of people who do purchase rental car insurance routinely buy it without fully understanding the coverage they are getting.

Statistic 13

On average, the cost to insure a rental car can be anywhere from $34 to $48 per day.

Statistic 14

Only about 45% of U.S. auto insurance policies cover rental car insurance.

Statistic 15

For travelers in the age group of 18-24, CDW (Collision Damage Waiver) can cost up to $27 per day.

Sources Icon Sources

In this post, we dive into the realm of rental car insurance coverage durations, shedding light on key statistics that reveal the varied landscape of insurance practices among renters and travelers. From the average costs incurred to the prevalence of purchasing decisions, these figures offer valuable insights for those navigating the complexities of rental car insurance.

Statistic 1

"On average, a rental car company's insurance will typically cost between $10 to $30 per day."

Sources Icon

Statistic 2

"Rental car insurance typically covers for periods of 31 days or less, as per the most insurance company policies."

Sources Icon

Statistic 3

"Approximately 21% of people always purchase insurance from rental companies."

Sources Icon

Statistic 4

"86% of travelers neglected to buy insurance because it's 'too expensive' or 'unnecessary'."

Sources Icon

Statistic 5

"VISA offers 15 days of coverage in your own country, and 31 days of coverage internationally."

Sources Icon

Statistic 6

"On average, drivers in their 20s paid $15 a month more for their car rental insurance than drivers aged 30 and above."

Sources Icon

Statistic 7

"Only 48% of credit cards provide global coverage on rental cars."

Sources Icon

Statistic 8

"20% of people who purchased rental car insurance regretted it afterward."

Sources Icon

Statistic 9

"64% of renters declined rental car insurance because they are already covered by their credit card benefits."

Sources Icon

Statistic 10

"56% of renters are not fully aware of their rental car insurance coverage which leads to unnecessary upgrades."

Sources Icon

Statistic 11

"Premiums for rental car insurance bought from the vehicle rental firm can be anywhere between $20 to $40 a day."

Sources Icon

Statistic 12

"84% of people who do purchase rental car insurance routinely buy it without fully understanding the coverage they are getting."

Sources Icon

Statistic 13

"On average, the cost to insure a rental car can be anywhere from $34 to $48 per day."

Sources Icon

Statistic 14

"Only about 45% of U.S. auto insurance policies cover rental car insurance."

Sources Icon

Statistic 15

"For travelers in the age group of 18-24, CDW (Collision Damage Waiver) can cost up to $27 per day."

Sources Icon

Interpretation

In conclusion, the statistics highlight a range of insights regarding rental car insurance coverage. The data indicates that rental car insurance costs vary significantly, typically ranging between $10 to $30 per day, with premiums fluctuating based on factors such as age and coverage duration. While a substantial portion of renters opt to purchase insurance from rental companies, a significant percentage overlook this option due to cost considerations or existing coverage through credit cards. The statistics also reveal a lack of awareness among renters regarding their insurance coverage, leading to potential regrets and unnecessary expenditures. Overall, these findings underscore the importance of informed decision-making when it comes to rental car insurance to ensure adequate protection while avoiding unnecessary expenses.

Can You Trust Our Report?

The statistics are checked by us and then entered into the database. Our market data reports have been linked to by some of the largest publishers and companies on the Internet.

Learn more about our process here.

Submit Your Own Statistic Data

Would you like to submit your own researched statistics on this topic? You are welcome to use the form below and submit your suggestion to us. We will check the source and approve it if necessary.

... Before You Leave, Catch This! 🔥

Your next business insight is just a subscription away. Our newsletter The Week in Data delivers the freshest statistics and trends directly to you. Stay informed, stay ahead—subscribe now.

Sign up for our newsletter and become the navigator of tomorrow's trends. Equip your strategy with unparalleled insights!