A Loss Damage Waiver (LDW) is a contractual agreement typically offered by rental car companies or insurance providers that relieves the renter of financial responsibility for damage or loss to a rented vehicle, subject to certain conditions and exclusions. LDW covers the costs of repairing or replacing the rental vehicle in the event of accidental damage, theft, or vandalism, allowing the renter to avoid paying out-of-pocket expenses for such incidents. However, LDW often comes with limitations, such as deductible amounts, exclusions for certain types of damage, and restrictions on who is covered by the waiver. It’s important for renters to carefully review the terms and conditions of LDW agreements to understand their rights and obligations before accepting or declining coverage.
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This glossary post was last updated: 29th March 2024.
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