Good points brought up here, but honestly, I think sometimes we overstate the value of certain coverages. Like rental coverage—sure, it's inconvenient to be without a car for a few days, but how often does that actually happen to most people? I've seen folks pay for rental coverage year after year and never use it once. If you're already tight on cash, maybe it's worth considering whether setting aside a little emergency fund yourself makes more sense than paying extra premiums every month.
Also, coverage gaps are definitely risky, but not every cheaper policy necessarily means less protection. Sometimes you can find a better deal by tweaking your deductibles or dropping coverages you genuinely don't need. I just think it's worth questioning whether "better safe than sorry" always means paying more. Maybe it's more about being smart and selective with what you're actually insuring against...
I get your point about rental coverage, but honestly, as someone who's had their trusty old Subaru break down in the middle of nowhere (twice!), rental coverage was a lifesaver. Sure, it might seem like a waste if you never use it, but the one time you do need it, you'll be thanking your lucky stars. I mean, yeah, setting aside an emergency fund sounds great in theory, but let's be real—how many of us actually manage to keep that untouched for car emergencies?
Also, tweaking deductibles can definitely save money, but it can bite you back too. I once upped my deductible to save a few bucks, and then BAM—hit a deer on a road trip through Montana. Suddenly that "smart" decision cost me way more than I'd saved. Not saying you're wrong, just that sometimes the peace of mind is worth paying a little extra for.
Guess it depends on your luck...and mine clearly isn't great, lol.
Rental coverage can help, sure, but honestly it's often overpriced for what you get.
"how many of us actually manage to keep that untouched for car emergencies?"
Fair point, but if you're disciplined enough to put aside even a small amount regularly, you'll usually come out ahead long-term...depends on your comfort level with risk though.
Rental coverage is one of those things that's easy to dismiss until you actually need it. Yeah, it's not always the best bang for your buck, but if you've ever been stuck without a car after an accident, even for just a few days, you start seeing the value pretty quick. Putting aside cash regularly is smart in theory, but life has a funny way of dipping into that fund for other "emergencies"...like pizza night or unexpected vet bills. Guess it boils down to knowing yourself and your spending habits.
"Putting aside cash regularly is smart in theory, but life has a funny way of dipping into that fund for other 'emergencies'...like pizza night or unexpected vet bills."
Haha, yep, been there more times than I'd like to admit. Honestly though, rental coverage is one of those things I never skip anymore. Learned my lesson the hard way a few years back. Here's how it went down (and maybe it'll help someone else avoid the same headache):
Step 1: Accident happens (minor fender bender, thankfully no injuries).
Step 2: Car goes into the shop, thinking it'll be just a few days.
Step 3: Shop finds "additional issues" (of course), turning a quick fix into a week-long ordeal.
Step 4: Realize my policy doesn't include rental coverage because I thought I'd "save money."
Step 5: Spend the next week scrambling for rides from friends and family—awkwardly asking coworkers for lifts and feeling like I'm back in high school again.
After that experience, I did some math. Rental coverage usually adds only a few bucks per month to your premium. Sure, it feels like you're paying extra for something you might never use—but if you ever do need it, trust me, you'll thank yourself later.
I get the logic behind having an emergency fund instead, but like you said, life always seems to have other plans for that money. Plus, even if you're disciplined enough to keep that cash untouched (kudos if you are!), rental cars aren't exactly cheap these days. A week's worth of rentals can easily wipe out months of careful saving.
Bottom line? I'm all about cutting unnecessary costs where possible—but when it comes to insurance add-ons like rental coverage, I prefer peace of mind over saving a couple bucks each month. Call me cautious...but at least I'll never have to bum another ride off my boss again.
