When you rent a car, the rental car agent almost always offers to add a collision damage waiver (CDW) to your contract for a specified daily charge. It sounds like insurance, but it’s not. Instead, the CDW waives or limits your financial liability for damage the rental car may sustain while in your possession, or its total value if the vehicle is stolen or totaled. Is a collision damage waiver worth the cost? To make that determination, you need to find out what coverage you already have for the rental ca ...