Even soaring gas prices and a sluggish economy won’t slow down the American road warrior. So how do you determine whether you need a Loss Damage Waiver (LDW) when renting a car? First and foremost, educate yourself. Know what’s covered by those seemingly steep fees so you can make an informed decision when you step up to the rental car counter. Avoid the costly mistakes of either wasting money purchasing unnecessary coverage or having dangerous gaps in coverage. Before renting a vehicle, you should make two phone calls-one to your insurance agent and the other to the credit card company you will be using to pay for the rental car.