Editor’s note: This is a transcript of the audio file.

Knowing exactly what your car insurance covers is a crucial part of owning a car. But many consumers aren’t fully informed. I’m Clark Palmer with your Bankrate.com personal finance minute.

A lot of people don’t know if they need to purchase rental car insurance, thinking that if they rent a car and wreck it, the damage will be covered by their regular auto insurance. But, those might not be the only charges. The rental company could charge you for loss of use of the car.

You should also remember that your car insurance covers your vehicle, not what’s inside of it. Your golf clubs in the trunk or that new stereo you installed aren’t covered.

And if you don’t have uninsured motorist coverage, you better make sure not to get into an accident with an uninsured motorist. Your insurance won’t cover it. Many states require insurers to offer uninsured motorist coverage, but they’re not required to tell you how high-risk your state is.

Finally, if you have a specialized ride such as a motorcycle, collector car, or motor home, you need a specialized insurance policy.

For more car insurance tips, visit Bankrate.com. I’m Clark Palmer.