No need ... my insurance covers me

I sell insurance on rental vehicles
"My insurance covers me." ... is what I hear a lot.
"I decline everything."
"My credit card covers me."
The other problem is just getting over the sticker shock

Comments for No need ... my insurance covers me

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Mar 23, 2020

by: Greg


from my experience, most people don't know what their insurance covers them for.

These people raising objections presumably think that they are covered.
It's up to you to educate them on whether they really are covered.

If it were me I'd research the cover that various credit card companies provide and make a table that shows what they cover versus what is not covered and have it side-by-side in the table with what your "extra" insurance covers.
That way they can see where they are at risk.
If they say they are happy with that risk it's up to you to gently question that. I could imagine reviewing scenarios with them would be a good way to deal with that.

e.g. "your credit card insurance does not cover you for the loss of personal items. So if someone breaks into your rental car and steals your laptop computer buying a new one will be at your expense. Come to think of it you'll also be up for the excess of repairs on the rental car. Although if they only break a window to get in you'll only be paying the full price of window replacement. Do you have any idea of what the cost of that will be?"

In terms of the "sticker shock," it's a similar situation. You have to detail how they could be out of pocket if things go wrong AND compare that to the price of buying the extra insurance and the peace of mind they'll have knowing they are covered.

In terms of "I decline everything".
My first response would be "Everything?"
Then I'd be guessing this person has made a decision in the past to "decline".
I'd want to know how they made that decision, and with your knowledge of the industry, you may be able to point out some flaws in the logic they used to arrive at that decision.

Hope this helps.

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