Car Rentals and Credit Card Insurance

Hello... i rent cars from the typical chains (avis, budget, etc) to visit different places, i am talking about places within a 5 - 8 hour drive from me.

Question 1: Should i pay the 30/day loss damage waiver insurance? i typically do purchase it because i have no car insurance of my own and my credit card does not offer insurance. i have President Choice master card. Since i am not covered elsewhere, i decide to play it safe and by the car rentals insurance. i believe this insurance does not cover me for the first $500.

Question 2: should i enroll onto a credit card that provides free auto insurance? is there a credit card i can sign up for with no annual charges but that also offers car rental insurance if i use said car to purchase the car rental?

thanks