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So, you're renting a car. You fill out the paperwork — and then the car rental agent asks if you want to purchase their insurance. Maybe they even give you a bit of a hard sell. What do you do? Do you just sign on the dotted line? Do you wave it off, saying you already have rental car insurance? Do you even know if you already have insurance? Figuring out the answers to these questions before you sign the papers will save you hassles and wasted money in the long run.

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1. Your Own Insurance Might Be Enough — Or Not

At the rental counter reaching for the key is not the time to start wondering what's actually in your auto insurance policy. Before you rent a car, call your insurance agent or take a look at your own policy. Determine whether you're covered for damage and loss of use of the rental vehicle. What about injury to others in the rental car? What happens if something is stolen from the car while you rent it? Know all these answers before you even walk in the door — because if the answer to any one of them is no and you refuse the insurance, you could find yourself in trouble.

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