Car Hire Rental Excess Insurance
What is Car Hire Rental Excess Insurance?
Car hire rental excess insurance is an insurance policy that is designed to cover the cost of the excess charged by a car hire company if you have an accident with the hire car. The excess is a sum that you agree to pay the car hire company if the car is damaged, lost or stolen. It is often a large sum, and if you don't take out insurance, it can be difficult to pay. This is where rental excess insurance can help.
The insurance policy covers the cost of the excess, usually up to a certain limit. This limit is often around £2,000, although some policies will cover higher excesses. The policy may also cover other costs, such as towing costs and the cost of alternative transport if the hire car is damaged and cannot be driven.
Who Needs Car Hire Rental Excess Insurance?
Car hire rental excess insurance is essential for anyone planning to hire a car. It is especially important if you are hiring a car abroad, as the excess can be much higher than in the UK. Even if you are hiring a car in the UK, the excess may still be quite high, so it is sensible to take out rental excess insurance.
If you are hiring a car for business purposes, you may be able to claim back the cost of the insurance on your business expenses. This can be a good way to make sure you are properly insured and not out of pocket.
What Does Car Hire Rental Excess Insurance Cover?
Car hire rental excess insurance covers the cost of the excess that you would have to pay the car hire company if the car is damaged, lost or stolen. It may also cover the cost of additional drivers, towing costs, the cost of alternative transport and other miscellaneous fees. The exact cover depends on the policy, so it is important to check the details before buying.
The policy will also have a limit on the amount of excess that can be claimed, so it is important to check that the limit is enough to cover the excess charged by the car hire company. It is also important to check the exclusions, as some policies do not cover certain types of damage.
How Much Does Car Hire Rental Excess Insurance Cost?
The cost of car hire rental excess insurance depends on the type of policy and the excess limit. Generally, the higher the excess limit, the more the policy will cost. The cost also depends on the length of the rental period, so it is important to check the terms and conditions of the policy.
The cost of the policy is usually much less than the excess itself, so it is usually worth taking out rental excess insurance. It is also worth shopping around to find the best deal, as some providers may offer a better rate than others.
Where Can I Buy Car Hire Rental Excess Insurance?
Car hire rental excess insurance can be bought from a variety of providers, such as insurance companies and car hire companies. It is also possible to buy the policy online, which is often the cheapest and most convenient option. When buying online, it is important to check the terms and conditions of the policy carefully to make sure it meets your needs.
It is also worth checking whether the car hire company offers its own rental excess insurance. This can often be a cheaper option than buying a separate policy, although the cover may be more limited.
Conclusion
Car hire rental excess insurance is an important policy for anyone planning to hire a car. It covers the cost of the excess that you would have to pay the car hire company if the car is damaged, lost or stolen. The cost of the policy is usually much less than the excess itself, so it is usually worth taking out rental excess insurance. It is also worth shopping around to find the best deal, as some providers may offer a better rate than others.
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