We've all experienced the insurance pitch at the rental car counter. The agents enthusiastically encourage you to purchase car rental insurance, or what's commonly referred to as a collision damage waiver (CDW). This damage waiver is regularly endorsed by rental car agents, who often receive 

incentives to push this oversold product. The good news is—you don't need it. That's assuming you have full coverage on your own car, which commonly includes collision and comprehensive. So, in most cases  the coverage is unnecessary and declining it will save you some money.

Now, if you're cruising around in a '72 Ford Pinto with just liability or no insurance coverage at all, CDW may be just what you're looking for. That's assuming you don't have one of the many credit cards that offer protection. Many credit card companies offer rental car insurance protection as long as the entire rental car transaction is charged to that specific card. Make sure to check with your credit card company or personal auto insurance company before denying CDW coverage.