Insurance Glossary

Loss Damage Waiver

Auto

Definition

An optional rental car agreement (not insurance) that waives the rental company's right to hold you financially responsible for damage or theft of the rental vehicle.

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Related Terms

Rental Car Insurance
Coverage for damage to or theft of a rental vehicle, which may be provided by your personal auto policy, credit card, or purchased from the rental company.
Collision Coverage
Insurance coverage that pays for damage to your vehicle resulting from a collision with another vehicle or object.
Comprehensive Coverage
Insurance coverage for damage to your vehicle from causes other than collision, such as theft, vandalism, fire, weather events, or hitting an animal.
Loss
The basis of a claim for damages under the terms of an insurance policy.
Uninsured Motorist Coverage
Insurance that covers you if you're in an accident caused by a driver who doesn't have liability insurance.
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