Coverage & liability · Travelers + trade
Theft Protection (TP)
Also called TP, theft waiver
The short answerLimits what you pay if the rental car is stolen, usually down to a theft excess.
What it means
Theft Protection limits your responsibility if the rental car, or sometimes its parts, is stolen. You're usually still responsible up to a theft excess, and the cover can fall away if the keys were left in the car or it wasn't locked. In many countries it's included in the rental price.
Why it matters
Theft is handled separately from collision damage in many countries, with its own excess. Check both numbers, not just the damage excess.
Wording by region
In the US, theft is usually bundled into the LDW.
Related terms
- Loss Damage Waiver (LDW)A waiver covering damage to and theft of the rental car, common in the US and Canada; it can come with a deductible or none.
- Collision Damage Waiver (CDW)An agreement where the rental company waives some or all of its right to charge you for damage to the car, usually above an excess. It's not insurance.
- Deductible vs excessSame thing, two words: the most you pay toward damage or theft of the rental car before the rental company's waiver covers the rest.
Also related Theft excess, Lost key fee