Annual Car Rental Excess Insurance - Don't Get Stuck Paying the Price

What is Car Rental Excess Insurance?

Car rental excess insurance, also known as car hire excess insurance and collision damage waiver (CDW) insurance, is an insurance policy that covers the excess charge imposed by car rental companies when a hire car is damaged, stolen or is involved in an accident. It is an additional insurance that you can take out to cover the excess charge that you would otherwise have to pay when making a claim for an incident involving the rental car.

Is Car Rental Excess Insurance Necessary?

The answer to this question depends on a variety of factors, including the type of car you are renting, the destination you are planning to visit and the length of time you are renting the car. If you are renting a car for a short trip, then you may be able to get away without having to take out excess insurance. However, if you are planning a longer trip or visiting a high risk area, then it is highly recommended that you take out some form of car rental excess insurance.

Annual Car Rental Excess Insurance - The Benefits

Annual car rental excess insurance is a great way to save money and provide peace of mind when renting a car for an extended period of time. With an annual policy, you can save money on the cost of taking out numerous single-trip policies over the course of a year. In addition, you will benefit from knowing that you are protected for any eventuality that may occur during your rental period.

What Does an Annual Car Rental Excess Insurance Policy Cover?

Annual car rental excess insurance policies typically cover the same risks as single-trip policies, including damage to the vehicle, theft of the vehicle, liability for damage to third parties and any personal belongings that may be damaged or stolen in the event of an incident involving the rental car. Most policies will also cover the cost of a replacement vehicle in the event that your rental car is damaged or stolen.

How Much Does it Cost?

The cost of an annual car rental excess insurance policy will vary depending on the insurer and the level of coverage you require. Generally speaking, an annual policy will cost less than taking out multiple single-trip policies over the course of a year, so it is worth considering if you are planning to rent a car on a regular basis.

Conclusion

Annual car rental excess insurance is an affordable and convenient way to protect yourself from the costs associated with damages or theft to a hire car. It can provide peace of mind and save you money in the long run, so it is worth considering if you are planning to rent a car on a regular basis. Be sure to shop around and compare policies before choosing one that best suits your needs.