I've been renting cars a lot lately and paying for the full insurance that Hertz offers. I don't have my own car, but I have an umbrella policy for $2 million and use a credit card that has $50,000 worth of collision coverage. Do I still need to buy the liability coverage through the rental car company?

Most people who own a car and have a regular auto insurance policy don't need to buy extra liability coverage. The liability limits on their auto policy also apply to most rental cars.

But your situation is trickier because you don't have your own car. Ask your insurance company whether your umbrella policy would cover liability if you rent a car. Some won't provide the coverage unless you have a regular auto insurance policy, too.

Also see if your credit card will provide liability coverage in addition to collision coverage and ask about any loopholes -- some limit coverage to 15 days and don't cover certain sportscars or big SUVs, for example.

If those methods won't work, consider buying a non-owner auto insurance policy, available through many auto insurers. These policies can provide liability coverage if you rent or borrow a car. It also may count as an underlying auto policy for your umbrella insurance, allowing your umbrella policy to kick in if you exceed the limits on your liability coverage. Non-owner policies tend to cost about $300 per year, according to the Insurance Information Institute, which may be less than buying liability coverage through the rental car company if you rent cars frequently.

Keep in mind, though, that the umbrella and non-owner policies do not provide collision coverage. If your credit card doesn't cover the timeframe or type of car you're renting, then you may need to buy the collision damage waiver from the rental car company.

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