There is no way to predict all the accidents and tragedies that can happen to you, but one of the best ways to be prepared for such an occurrence is insurance. Having good insurance policies in place can protect you from financial devastation in the face of unexpected catastrophes. And the best part is, there are forms of insurance for nearly every event and activity—the hiring of a van included.
When hiring a van, it is crucial that you are insured against damage or loss of the vehicle and any damage or injury to a third party. However, being a small field of insurance all on its own, van hire insurance must be understood properly to prepare you for the dire circumstances.
What type of insurance applies to van rentals?
The type of insurance you are looking for is van hire excess insurance. It can protect you from excess charges if your rented vehicle is damaged or lost for whatever reason. It is a completely voluntary form of insurance usually taken out from the rental company, although sometimes third party providers can offer it.
If, heaven forbid, something does happen to the van that forces you to pay for its repairs or replacement, you can claim back the expenses, provided the claim is covered under the policy.
However, it is important to remember that excess reduction policies bought directly from the rental company might be expensive. In the event of an accident, the terms might be less favourable to you than you assume, covering the excess costs of damage or loss only in part. If you decline the policy, the excess charges will likely be taken out of your credit card.
It is also important to remember that it may take a while to claim reimbursement on your policy, depending on the terms and circumstances.
What should I watch out for?
Before signing up for any insurance policy, it is critical to understand the terms and conditions of the agreement. You should know what incidents you should be covered for, in addition to the limitations and exclusions set by the insurance provider.
It is also important to inquire whether basic insurance is included in the van hire excess insurance policy you are offered. Van rental companies might have their prices on their websites, but the insurance policies might not be included in these prices.
Also, remember to bring your credit card when picking up your van, as you will likely have to leave a deposit to pay for the excess. Depending on your insurer and their policies, you may be entitled to claim back once your rental of the van has concluded.
Before you drive away, make sure to take photos of the van to document its condition. Confirm the condition with your van rental company, and make sure to store the photos as evidence in the event of a dispute.
Van hire excess insurance is only one of the ways you can protect yourself from the things you cannot plan for. Accidents, injuries, theft, and so on, are just some of these things. Without a proper insurance policy in place, you leave yourself open to these risks and more.
If you’re looking for van hire excess insurance for your next van rental, send us a message at Goodbye Excess. We offer protection on a multitude of properties, from commercial to personal.