Protect yourself against a large excess bill if your rented car is in an accident, is stolen or vandalised.
Car hire excess insurance protects you from inflated excess fees in the event of your rented vehicle being stolen, damaged or involved in an accident. With this type of cover, the insurance provider would then cover the excess fees outlined in your vehicle rental agreement.
There are many car hire excess policies available to suit different needs. Having an independent insurance policy means you do not have to pay hefty excess fees or pay for insurance with the car rental company. You then avoid paying as much as €20 per day of rental and can rest assured that you are covered with your own policy.
Different insurance providers will have different policies and it’s important to know which options are available in order to choose the one that will suit your needs. Some countries will have different policies, so having your own protection will ensure that you’re not missing anything and have all the options you need should anything happen. Typically, issues covered by policies include theft and accidental damage to your vehicle and/or a third party.
In the case of a vehicle being involved in an accident, a collision damage waiver means the rental company agrees to waive the cost of damage to the vehicle. You may still be liable for excess payment. In some parts of the world this is the other name for car hire excess insurance.
Some countries include supplementary liability insurance as standard, however it’s not the case in others like Canada and USA. This policy provides cover in the event of a rented car being involved in an accident causing damage to a third party.
Because not everyone has the same needs, you can choose between annual car hire excess insurance – perfect if you’re a frequent rental customer – or a daily rate, which is great if you are planning a trip and looking to get cover for only a few days.
Most insurance companies will cover Europe or USA/Canada at different rates but if you’re looking to travel to a wider variety of countries, a worldwide insurance policy may be what you need. Most policies will specify which countries are included – usually excluded are war-torn countries or countries under communist rule.
Holiday-makers who enjoy renting motorhomes for their trip can gain complete peace of mind by insuring their rental motorhome in case something happens, so that holidays are not ruined by a hefty excess fee!
Also known as a collision damage waiver, loss damage waiver or excess insurance, car hire excess insurance is invaluable for both frequent and occasional vehicle renters alike. Rental companies can offer these policies for as much as €20 per day, by choosing an independent provider you can get protected for as little as €2.99 a day. So not only does it provide excellent cover for when issues arise, but it also saves you a lot of money!
Typically, a car hire excess policy bought through a comparison engine such as UCompare.ie can save you up to 60% on the prices charged by the rental companies. It only takes a few minutes and the tool will gather quotes from the most reputable insurers to allow you to choose the one that best suits your needs and budget.
Be sure to read all policies and conditions of an insurer before committing, so you know exactly what to expect and if the insurance will cover what you need.
Here are a few things to consider when choosing car hire excess insurance:
● How often you rent a vehicle
● Where you plan on travelling
● What risks are covered in the policy
● The budget you want to spend
UCompare will allow you to easily find all the information you need and you can also contact insurers to find out more about their policies. Find out more information about common questions related to this topic in our Car Hire Excess Insurance FAQ.