Dynamic fracture has been a widely studied topic for many engineering materials in applications e.g. those involving impact/blast protection and crashworthiness. In many of these applications fracturing is modeled via a continuum damage mechanics approach which is typically employed along with a localization limiter. However, unlike static fracture, dynamic fracture is characterized by crack branching and complete suppression of localization beyond certain strain rates. Thus, while static fracture modeling requires the usage of a localization limiter (such as the crack band model) it’s usage for dynamic fracture branching must be re-evaluated. This study is aimed at evaluating continuum scale predictions on dynamic crack propagation and branching in brittle materials when modeled using various localization limiters, viz. the crack band model and material rate effects. Classical experimental results on crack branching in PMMA are used as benchmark. A simple isotropic damage model is adapted and implemented in conjunction with the aforementioned localization limiters. Crack propagation and branching are predicted, and the effect of various strain rate dependent phenomenon such as material viscoelasticity and rate dependent strength and fracture energy are evaluated. Numerical aspects such as the effect of mesh bias, directionality and nonlocality of strain are analyzed too. Finally, attempts are made to identify limits of applicability of the localization limiters and to propose a strategy to correctly model the strain rate dependent localization or its absence.