While most people spend lots of time looking for ways to maximize their budget, one costly decision is often left to the last minute—whether to buy the optional insurance offered by a rental car company.

Deciding whether to buy ‘damage waivers’ or insurance at the rental car counter can be a confusing experience—especially if you don’t know if you’re already covered by your personal auto insurance policy.

Follow these three tips to help you decide whether or not you should buy the coverage:

• Consult with an agent at InsureMe Texas. As licensed insurance professionals, we can review and evaluate your policies to find out if the coverage you have on your personal vehicle provides protection for you in a rental car.
• Check with your credit card company. Some credit card companies provide coverage at no charge if you use their card to charge the cost of the rental. However, some restrictions may apply so be sure to ask for a description of the exact coverages provided.
• Take your personal auto insurance policy and details of your coverages with you to the rental car counter. You may be asked a question that these papers can help answer—or, if you’re in doubt, you’ll have your agent’s name and phone number readily available.

Most insurance policies cover you in the event of a rental car mishap — but not all. And any claim filed on a rental car accident will affect future rates. Make sure to take all of this into account before deciding on the optional rental car insurance.