Renting a car, especially abroad, is undeniably expensive. Aside from paying the rental fees, there are also other costs involved, such as additional drivers, child seats, GPS, and in some cases, late return fees. All these costs can add up to a dizzying amount. And this is assuming nothing happens to the car while in your possession.
If something happens to your car hire during your holiday, you would have to cough up to £1,000 on average. But you can avoid paying that excessive a fee when you choose to secure a car hire excess insurance. The best thing about it is it’s not heavy on the pocket and can save your bank account from being in the red in the event that you damage your rental car on holiday.
What is car hire excess insurance?
Simply put, car hire excess insurance is added insurance coverage that can protect you when the vehicle gets damaged or stolen. It should cover the excess charge that you otherwise would have to pay when you damage or lose a hire vehicle. It’s alternatively referred to as excess waiver insurance.
Car rental companies are notorious for hitting you with surprise fees. Even if they have their own insurance for their vehicles, they’re known to charge their customers with exorbitant fees for claims, whether or not it was your fault. Getting car hire excess insurance can help you claim the costs back.
Is it worth it to take out a car hire excess insurance?
Getting car insurance excess protection can give you peace of mind during your holiday. You can rest assured that you won’t have to spring for extra fees if you make a claim. While you can always opt for cheaper car insurance premiums, they don’t guarantee that you won’t be blindsided with big bills in the event that you get involved in an accident. You may also think that it’s unnecessary if you’re careful enough, and that’s fair. Still, if you want to eliminate all risks that can put you in a financially vulnerable position, then you should get car insurance excess coverage.
What does car hire excess insurance cover?
In addition to the vehicle itself, car hire excess insurance also cover wheels, the windscreen, undercarriage, and the roof. Fire, theft, vandalism, and flood damage may be covered, too. Depending on the company, you may also be offered free personal accident coverage up to £40,000. You may even get covered for up to five named drivers.
What should I be on the lookout for when shopping for car excess insurance?
When doing your research on car hire excess insurance, you should take into account the claims limit, the price (ideally, it should be something that fits your budget), whether the policy is daily or annual, and the locations covered. You should also look into the exclusions in the policy, so you know what to claim for.
If you want to avoid incurring surprising damages when renting a car, getting car excess insurance is the way to go. Get in touch with us should you need help.