When you hire a car, the rental company will usually offer you the option to buy car hire excess insurance. This insurance covers the excess amount that you would be liable to pay in the event of damage to the rental car. It is important to note that this insurance does not cover the cost of any damage to personal belongings or to third party property.
What is Excess Insurance?
Car hire excess insurance is insurance that is designed to cover the excess that is payable on a car hire agreement in the event of damage to, or theft of, the vehicle. The excess is the amount that the hirer is responsible for paying in the event of damage or theft, and can be a significant amount of money. Car hire excess insurance covers the excess that is payable, up to a specified limit, in the event of damage to, or theft of, the vehicle. It is important to check the terms and conditions of the car hire agreement, as well as the policy terms and conditions, to ensure that you are covered for the excess, more information here.
How does your car hire excess insurance work?
When you purchase car hire excess insurance, you are covered for the excess amount on your rental car agreement. This is the amount that you would be responsible for if your rental car was damaged or stolen. Your car hire excess insurance will also cover any additional expenses that you may incur, such as towing charges or storage fees.
What are my options when buying Excess Insurance?
When you purchase car hire excess insurance, you are essentially insuring yourself against the high excess that is charged by rental companies when you make a claim. The excess is the amount of money you are required to pay towards a claim, and it can be quite high – sometimes as much as $5,000. Car hire excess insurance covers the excess amount, so you don’t have to pay it if you make a claim. It also covers any other costs that are not covered by your regular insurance, such as windscreen damage or tyre damage.
Car hire excess insurance typically covers the excess that you would otherwise have to pay in the event of damage to or theft of the rental car. It is important to note, however, that car hire excess insurance does not cover any damage to personal belongings or third-party property.