Loss damage waiver意思

"Loss Damage Waiver" (LDW) is a term commonly used in the rental car industry. It refers to an optional insurance coverage that renters can purchase to waive or reduce their financial responsibility in case of damage or loss to the rented vehicle.

When you rent a car, the rental agreement typically includes a provision that makes you responsible for the full cost of repairing any damage to the vehicle, regardless of how it occurred, unless you purchase additional insurance. The Loss Damage Waiver is one such insurance that can help protect you from these high costs.

By purchasing the LDW, you are essentially waiving or reducing your responsibility for the vehicle's loss or damage, up to certain limits. The specific terms and conditions of the LDW, including the amount of coverage and any exclusions, will vary by rental company and the terms of the rental agreement.

It's important to note that the Loss Damage Waiver is different from liability insurance, which covers damage to other people or their property in the event of an accident. Renters should carefully review their rental agreement and consider their own insurance coverage, as well as any coverage provided by their credit card or personal insurance policy, before deciding whether to purchase the LDW.