Loss Damage Waiver (LDW)
At the rental car office, you're likely to encounter certain insurance-related terms. "LDW" stands for Loss Damage Waiver, and it limits the amount you'd be responsible for if your rental vehicle is damaged or stolen. "CDW" is similar, but it only covers losses caused by collisions.
While these options are usually referred to as "insurance," they're really "waivers" since the rental car company is waiving its right to hold you accountable for certain types of loss.
You may also be offered "PEC" (Personal Effects Coverage) which covers personal effects, or "PAI" (Personal Accident Insurance) which covers personal injuries while renting a vehicle.