What is car hire excess insurance?

If you hire a car and it gets damaged or stolen the car hire excess insurance policy can cover you for excess charges imposed by the car rental company- via Collision Damage Waiver (CDW) and theft - via Loss Damage Waiver (LDW).

Excess cover is essentially an additional insurance policy which can protect you from the excess costs you would otherwise have to pay, should your hire car get damaged or stolen.

If we take a car collision that results in a £750 cost to repair the damage, and your excess was £500, as an example, under the terms of a car hire agreement you would have to pay an excess of £500 to the car rental company, and the car rental company would pay the remaining amount.

However, if you have taken out car hire excess insurance you can reclaim additional excess or repair costs covered by an insurance4carhire policy. To find out more about this we recommend reading this recent case study as featured in the Daily Mirror.

A common question we’re asked is why would they have to pay any excess if motor insurance is included in the cost of the car they hire?

The problem is - the insurance that comes as standard when you hire a car may not protect you fully. This cover merely reduces the amount you would need to pay if your hire car gets damaged or stolen, and some parts of the car may not be covered by the policy at all (namely windows, tyres, undercarriage, roof and headlights).

Whilst car hire companies can offer you excess insurance over the counter, you may end up paying more (in some cases between £9 - £20 per day) for expensive cover which isn’t as wide ranging. Insurance4carhire.com policies often work out cheaper and provide greater cover.

As a specialist insurance provider, insurance4carhire.com can offer you the additional cover you may need. It will allow you to claim back additional excess charges should you get into an accident or have the car stolen.

We can offer a choice of policies - annual policies from as little as £39.99 for the year (if you hire cars regularly) or daily policies from as little as £3.99 per day if you only require the vehicle for a day or two at a time.