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Car Hire Excess Insurance

There has been a lot of discussion regarding car rental companies “Excess Insurance Payment” and “Collision Damage Waiver“.

Many customers complaining they were not aware of the extra insurance cover that was required by the car rental company.  In some cases the Excess Premium” costing more than the price of the hire car!

What insurance is included in the price of your car hire?

Collision Damage Waiver and Theft Protection

Your hire car company in their agreement with you will normally cover for Collision Damage Waiver (CDW) and Theft Protection.

What does Collision Damage Waiver and Theft Protection cover?

Your car rental company will partially cover damages incurred in the event of an accident and or theft.  It is not a full comprehensive insurance cover.

Collision Damage Waiver (CDW) does not cover loss of keys, or damage to tyres, windows or the undercarriage.

In the event of an accident causing damage to the vehicle, or it is stolen, you will have an “Excess” premium to pay.

Theft Protection covers costs relating to the theft or attempted theft of the rental vehicle but does not cover the loss of personal possessions.

You will still be liable for the Excess Premium.

Excess Premium

Many travellers are unaware that they are liable for the “Excess” premium.  They are caught off guard when they go to collect their hire car to be informed that they are liable for the “Excess” premium.

The “Excess” premium is payable if you are involved in an accident, the car is damaged, the car is stolen or the keys are lost.  Many car rental companies also charge for clutch failure during the rental period.

The amount of the “Excess” varies depending on the company.  In some cases the premium can be as much as £3,000!  This amount will be held by the car rental company on your credit card in case such an event should happen.

If you do not want to be held liable for the “Excess” payment, the hire car company will offer you their Excess Insurance Policy.  However, this can be very expensive, sometimes costing as much as £30.00 per day!

Damage Refund Insurance

In order to avoid this situation, we have the option on our website when booking your hire car to take out a Damage Refund Insurance policy at the time of making your booking.  By choosing this option it will reduce your excess liability to € 0.00 and you will receive a full refund for any Excess paid.

This will save you money and enable you to budget correctly for your total hire car charges.

For further information on the details of the Damage Refund Insurance policy we offer click on the Terms & Conditions and “How Does the Insurance Work During and After Hire” before purchasing the insurance policy.

When you arrive at the car hire desk the car rental company may ask you to purchase their excess insurance, however, there is no need as the Damage Refund Insurance policy which you have purchased will cover you for the “Excess”.

The car rental company will request that a deposit is held on your credit card to cover the “Excess” payment in case of theft or damage to the vehicle.  When you return the vehicle un-damaged, the payment will be credited to your card.

If you return the vehicle damaged or it is stolen, the car rental company will deduct the cost of any damage from the deposit they are holding on your credit card.

You will then need to re-claim this amount from the insurance company.

It is important that you obtain an estimate or invoice from the car rental company for the cost of the repair to submit with your claim to the insurance company.

 

 

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