Car insurance waivers can be particularly confusing and knowing when to actually decline an offer can be a useful skill to have. There are actually two options that consumers have when deciding on a car insurance waiver; the consumer can decide to opt for a waiver in their favor or they can choose to decline one.
When a motorist is looking to lease a vehicle, they will be given the option of purchasing extra cover or, alternatively, they will have the choice to waiver their rights. In legal terms, this means that the motorist can actually decline the offer that is being given to them but they will be financially accountable for any damage costs that may result which exceed the agreed level that their insurance company will pay. Depending on the state that a driver lives in, they can waiver their rights to collision damage but they will lose any rights to have accident damage paid for if the vehicle is damaged in an accident.
Older drivers and those with a long-standing record of safe driving will be entitled to other benefits and an insurance company may waiver the deductible costs of these privileged drivers. In the event of a road traffic accident, the insurer will cover the cost of accident damage without the policyholder having to pay a deductible figure first.
However, some states make this deductible figure a compulsory factor as a means of offering protection against uninsured and underinsured motorists. Under these circumstances, the deductible can only be waived if the policyholder already has sufficient protection against uninsured or underinsured drivers.