Hiring a car when abroad gives you the freedom to drive anywhere you want whenever you want, but it does not come cheap. Add to that the risk of getting into an accident and putting your finances under more burden, and you might shy away from the idea altogether.
For those who do pay money to rent a car, they might sit down and wonder whether they will need excess insurance to reduce the risk of any unnecessary financial trouble. If you plan to hire a car abroad and find yourself facing a similar question, here’s what you need to know to make the right decision.
Should you get excess insurance?
We recommend it. That is because most insurance policies will not be enough to cover all the possible expenses you may face. With excess insurance, you won’t have to worry, as the insurance provider will easily cover any excess amount. This can happen in a few ways.
For example, your current insurance that comes with the car rental may cover some basic stuff. However, it may not cover some instances, like when the wheels, tires, and roof of the vehicle get damaged.
With excess insurance, any extra costs that you are liable for will be covered by the excess insurance provider, ensuring you are not put under financial burden.
That being said, if you believe that you can bear the financial cost of an accident all by yourself, then you will not have to consider excess insurance. However, we still recommend it because it can save you a lot of money should anything happen.
Where should you get excess insurance?
Anywhere else but the company you hired the car from. We say this because most rentals will charge you a lot more for excess insurance than what you may get somewhere else. Keep in mind that you may be pressured by the rental to buy their plan, but do your best to stay away from it.
Are there any other sources of insurance?
There are, and one great example is travel insurance. If you are abroad for travel purposes, chances are that you already have travel insurance. This type of insurance may include some excess coverage. Just note that the amount it covers may not be enough for some situations, so make sure it is sufficient by carefully going over your travel insurance.
Most domestic car insurance policies offer no excess coverage, but some might. Once again, check the policy and then plan accordingly.
With an excess insurance policy in hand, you can enjoy driving knowing that you will not be under much financial burden should an accident occur.
That being said, the most important priority is that you drive safely. This can include understanding the rules of the road in the country, as well as making sure your driving license is valid. If you do find yourself in an accident, stop immediately, take some photos, and call the police if necessary. Also, report what has happened to the car rental company and ask for guidance on what you can do.
Goodbye Excess provides various excess insurance policies to cover your car, home, and more! If you need car excess coverage in the UK, reach out to us today!