Car hire excess insurance is an optional insurance coverage which can protect you from the excess costs that you are required to pay in the event that your hire car hire is damaged or stolen.
How car hire excess insurance works
One story, two very different scenarios: without and with a car hire excess policy from insurance4carhire
Without car hire excess insurance
You're on holiday in France and you're unfamiliar with driving on the right hand side of the road. You accidentally clip the edge of the road, puncturing a tyre and damaging paintwork.
This costs £750 to repair. Your excess with the car rental company is £500, so you will have to pay the company £500 and they will pay the remaining £250.
Cost to you: £500.
With car hire excess insurance
You have taken out insurance4carhire's Annual Europe policy* in preparation for your holiday in France. You clip the edge of the road, puncturing a tyre and damaging paintwork. This costs £750 to repair.
Your excess with the car rental company is £500, so you will have to pay the company £500 and they will pay the remaining £250. However, you then claim with insurance4carhire and receive a refund of £500 for your excess.
Cost to you: From £46.99*.
Why choose a policy from insurance4carhire?
Excess cover is often offered when you pick up your rental car, but at a high cost - between £9 and £20 per day). A policy from insurance4carhire will cost you from £12.79 per trip or from £46.99 per year* and will cover your excess - up to £6,500 per claim.
What about CDW?
Most car hire companies around the world include this type of insurance as standard when you hire your car. However, in some countries, such as those in North America and central America do not. It is also becoming increasingly common for car rental companies in Europe not to include this cover. To meet the needs of car renters travelling to these countries, insurance4carhire offers a Worldwide Plus CDW & SLI annual policy.
Daily versus annual car hire excess insurance
The key difference between our daily and annual car hire excess insurance policies is that daily policies are available for periods of up to 60 days at a time and can cover you almost anywhere in the world*. However, please note that you'll need to take out a new policy with each car rental agreement.
Our annual car hire excess insurance policies, on the other hand, allow you to cover your excess for up to 60 days at a time as many times as you like over the course of 12 months.
* Price of £46.99 for UK,Isle of Man, Channel Islands and Republic of Ireland residents, £47.99 for Sweden residents, £49.99 for France residents, £54.99 for Netherlands residents, £74.99 for Spain and Germany residents, and £89.99 for Italy residents.
About the author
This is a marketing article from insurance4carhire by our car hire excess insurance business unit director, Adam Summersby. Adam is a respected leader with 11 years’ varied experience in niche personal and commercial lines insurance, including caravan, site operators and excess reimbursement, with proficiency in leadership, sales and account management.