Topics
on car hire rental:
car rental excess insurance explained...
Just
what is car rental excess insurance? Hiring a car can be a great way to see more
of a foreign country. It gives you a freedom that you wouldn’t normal experience
if you stayed in your hotel complex, and means that you’re given the ability to
explore places that go beyond just the pool, bar, local market and beach just
down the road.
However, it’s sometimes necessary for business trips too – many companies expect
their workers to hire cars on business trips in order to maximise their efficiency
while going to see clients, and because it saves them running up huge taxi bills.
Still,
that’s not to say that it’s necessarily a cheap option. While car hire itself
can often be relatively reasonably priced (unless you’re viewed as a particularly
risky driver, such as someone under 25), the additional charges levied on car
rental can be extremely high. As a result, many people find that car rental excess
insurance is enough to put them off renting for themselves.
An excess is defined as the amount of an insurance claim you
pay before the insurance company takes over; if you have a
repair bill of £300 and an excess of £250, you’ll pay the
first £250 and your provider will take care of the remainder.
However, unlike most UK car insurance excesses, the excess
insisted on by many foreign can hire insurance providers can
be extremely large (perhaps even as high as a thousand pounds
in some cases). Understandably, it’s unlikely that you’d want
such a large risk hanging over your head.
But
what are your options? If you don’t like the idea of being liable for so much
money, you can take out car rental excess insurance when you arrange to hire your
car. This usually takes the form of what’s known as a collision damage waiver
(CDW) or theft protection policy, and is aimed at reducing the amount you pay
in the result of a collision or theft while the car is signed over in your name.
The
cost of these premiums increase as they bring down your excess – the point where
a ‘Super CDW’ or ‘Super Theft Protection’ policy
will completely remove your excess altogether, meaning that your insurance provider
is entirely liable for any accidents you might have – but these can often be expensive.
For a cheaper brand of car
rental excess insurance, you
might want to consider buying online. There are a whole host
of companies that will allow you to pre-book your insurance
before you go abroad, either on a daily basis or in annual
instalments – useful if you’re planning on renting a car abroad
more than once in a twelve-month period.
These
are often much cheaper, and mean you don’t get sidelined into buying other optional
packages that you don’t really need, as well as streamlining the process of sorting
out your car rental excess insurance.
Whichever
option you choose, remember that even though car insurance is necessary, car rental
excess insurance is usually just a way to get peace of mind, allowing you to enjoy
your holiday as much as possible.
Information
supplied by insurance4carhire.com
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