Another phrase is VERY IMPORTANT! "If there is a loss to a 'non-owned auto', we will provide the broadest coverage applicable to any 'covered auto' in the Declarations." Here's an example of how this would work for you: You have two vehicles. One is a 2006 Toyota Email Database Camry with full coverage. It's worth $24,000. The other is a 1980 Chevy S-10 pickup worth $1,500 that you only use for trips back and forth to the local home improvement store, and you only have liability coverage on the pickup.
If you rented a car and it got damaged, your insurance company would provide the full coverage for the rental car, which is the broadest coverage in your policy. If you normally drive an older car with only liability insurance on it, there will not be any property damage insurance extended to the rental car. In this instance, you should either use the credit card's Collision Damage Waiver or buy the CDW from the car rental company.
Ask your insurance company representative how much coverage you have on your car. Ask if there is a limit of value on your Collision coverage. If there is a limit, and you drive a 7 year old Ford Taurus that's worth $5,500...and you rent a new Cadillac Escalade Email Database that's worth $55,000...will your personal auto insurance cover the damage to the higher valued vehicle? REALLY important to know this.