“There are no headaches. You drop off the car, say ‘Have a nice day,’ and you’re set.”
– Spencer Houldin
As July wraps up and families try to squeeze the last summer vacation in the early weeks of August, there is a nagging question that haunts drivers every time they pick-up their rental car at the airport – do I need to get the rental car company’s collision damage waiver? A collision damage waiver, or CDW, is a type of insurance policy that runs about $10-$30 dollars a day that covers any physical damage to the rental car.
Most drivers do not take this coverage because they already have collision coverage on their primary automobile and that coverage extends to the rental car. Besides, $20-a-day worth of extra expense cuts into the family snow cone budget. However, if the car gets damaged on your road trip (think scenes from either version of Vacation) you are most likely on the hook for your deductible ($250-$500) as well as a diminished value fee ($2,500-$7,000) which really cuts into the vacation budget. So, go ahead and pay a few extra bucks for the CDW and enjoy your time on the road without worry.