In case you are wondering, you can still get stung at the car rental company's collection desk. Apart from a steep daily charge, Hertz wanted me to pay USD $29.95/day for CDW protection. Since my stay totalled 7 days, that would have been a quite handsome add-on for Hertz Rental Car - circa USD $210 for Loss Damage Waiver.
I kept the receipt I was provided at the rental desk just to show you this was the case.
PS - note that I declined the fuel option as well. If I did not bring it back with a full tank, I would have quickly lost part of those CDW savings as Hertz would have charged me $9.94/gallon x 18 gallons = approx. $180.00! Quite steep compared to the local gas station just outside the airport which sells it for $5.55/gallon. Also, the car I had was fuel efficient ( 35-40 Miles per gallon), so I would have never used all that fuel in the car!
So, remember to buy before you fly! Get your car hire insurance ahead of your trip ask about your options with the fuel policy. Don't be afraid to say "No Thanks!"