Budget Car Rental Insurance Excess Explained

What is Insurance Excess?

Insurance excess is the amount of money you have to pay in the event of a car accident. It means that you will be personally responsible for paying a certain amount, which is determined by the insurance policy you have chosen. This excess amount is usually taken out of any settlement you receive from the insurance company, so it is important to be aware of the amount you will be expected to pay before you sign up for a policy.

How Does Budget Car Rental Insurance Excess Work?

Budget Car Rental offers a range of insurance options for their customers. These insurance policies can help protect you against any costs related to a car accident, including the costs of repairs, medical bills, and legal fees. Depending on the policy you choose, you may be required to pay an excess amount. This amount will vary depending on the policy you choose.

For example, if you choose a full coverage policy, you may have to pay a higher excess amount compared to a basic coverage policy. It is important to note that the excess amount does not cover any damage to the car itself. It is only used to cover any costs related to the accident.

What Should I Consider When Choosing a Budget Car Rental Insurance Excess?

When choosing an insurance policy with Budget Car Rental, it is important to consider the amount of excess you are willing to pay. Generally, the higher the excess, the cheaper the insurance policy. However, it is important to consider how much you can afford to pay in the event of an accident.

It is also important to consider the type of cover you need. Some policies may only cover third-party damages, while others may also include cover for your own vehicle. It is important to compare the different policies and to choose the one that best suits your needs.

What Happens If I Don't Have Enough Money to Pay the Excess?

If you are unable to pay the excess amount, the insurance company may ask you to provide a guarantor. This is someone who agrees to pay the excess amount on your behalf if you are unable to do so. It is important to note that the guarantor will be liable for the excess amount if you fail to pay it.

In some cases, the insurance company may waive the excess amount or reduce the amount if you provide proof of financial hardship. However, this is not guaranteed and it is important to speak with the insurance company before signing up for a policy.

Conclusion

When choosing an insurance policy with Budget Car Rental, it is important to consider the amount of excess you are willing to pay. It is also important to compare the different policies and to choose the one that best suits your needs. In some cases, the insurance company may waive the excess amount or reduce the amount if you provide proof of financial hardship.