Guide to car hire insurance
Post date: February 5th, 2010 |
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When hiring a rental car there is typically third party liability cover included in the car hire costs. This is due to the fact that liability cover is typically required by law when driving in the UK. You may also find you are also going to be offered excess car hire insurance by the company you rent your car from. This is protection that would cover your portion of the costs of a damaged or stolen vehicle under hire, known as excess.
Excess is the required amount that you would have to pay if something happens to the vehicle in your care. With this insurance cover, your provider would pay for the costs of repair cause by collision or a stolen vehicle. Sometimes providers include insurance for tyres, underbody damage and glass that might be damaged while you use it.
Car hire insurance typically covers the person renting the car instead of covering the actual car. Excess waiver is neccesary to have if you are in the unfortunate situation of having an accident or a car stolen when under hire. Excess charges can typically vary from five hundred pounds to over a thousand pounds depending on the company and the vehicle.
How cover works
To ensure that you get the best deal on your car hire insurance you may choose to look online with a specialist. There are policies available that protect you for rent in the UK or Europe and also some for worldwide protection.
If you have protection in place, you would file a claim after your credit or debit card is billed by the car hire company after the accident occurs or the vehicle is stolen. The key for you is to decide whether it is better to take on the risk of a potential expense of hundreds or thousands of pounds in excess, or to pay a modest premium cost to provide you with peace of mind that you would not face a large expense.
Realise that when you go to rent a car, the rental company’s car hire excess insurance is optional. Some companies will try to push their cover on you while others simply make you aware that they offer it. You may be able to find cheaper insurance premiums if you decide to search online and compare the cost of cover with a specialist.
Now that you understand the basics of car hire excess insurance, what it is about, and what it covers, you can investigate more thoroughly to find the exact right policy for you. You may need to consider:
• how much excess waiver to choose, with the obvious awareness that the greater the excess protection the more expensive the premium;
• what beenfits and features you would want to include? You might decide to get a basic policy to save money, though the broadest protection probably comes by including the benefits for tyres, windows, and more.
Think carefully and consult with your specialist to find your best product.