Auto insurers typically provide the same coverage for

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Unformatted text preview: take place at low speeds in parking lots. Plus, the upgraded vehicle they’re driving is no longer fully covered either by their regular auto insurance or by the secondary car rental insurance they expect from American Express. If they’ve agreed to pay the additional $10 to $25 a day for the car rental agency’s “collision and liability damage wavier fee,” they will be able to walk away from any accident with no liability. Otherwise, they’re running a costly risk. Soon they pull into a shopping mall with the kids to pick up the forgotten sunscreen and sodas, where they discover that luxury road-warrior mobile is not so easy to park in stalls designed in the 1970s and 1980s when compact cars were all the rage. Thwack— there goes the door panel. Crunch—a rear bumper into a light post. Wham! There goes the family bank account, but they don’t realize it yet—not until they receive the bill from the rental agency, the one that comes after their auto insurance and credit card companies have already pai...
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This note was uploaded on 03/24/2013 for the course ECON 830 taught by Professor Shahlasultaova during the Fall '12 term at Khazar University.

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