Car hire excess cover is an optional extra to the collision damage waiver insurance cover typically supplied as standard by car hire companies.

If you don’t have excess car insurance, this would mean that if the car were damaged then you would be responsible for the repair costs up to the value of the excess.

To help put this in perspective, car hire company excess charges for damage repairs will usually go directly to your credit card – and they could be as high as £1600.

Exclusions

However there is more to taking out insurance than the charges for excess.

A typical collision damage waiver protection will exclude certain car parts from cover. This means that if any of these parts need to be repaired or replaced due to damage sustained during your rental, then you are responsible for these repair costs and that could be in addition to any excess charges relating to other damage.

The parts concerned are generally:

l the windscreen and glass;

l the tyres;

l the under-body.

Worth the risk or not?

You may wish to ask yourself if are willing to risk not having insurance just to save money on the premiums.

Options

The provision of car hire insurance protection is not restricted to the car rental companies.

You will find that there is a number of internet based insurance providers. They generally offer a range of products for rentals in the UK, Europe and further afield.

You may be able to get additional benefits such as:

l insurance protection for a number of named drivers at no extra cost;

l a yearly insurance policy that may cover many rentals;

l protection for the parts which were excluded in other policies.

Most importantly of all perhaps, is that you may find that their car hire excess protection premiums may be most cost efficient than those of the car hire companies. Do note that your policy will be subject to policy limitations, exclusions within its terms and conditions.

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Yet if you take the time to understand what cover it actually provides, you may decide that it doesn’t go quite as far as you’d like in providing you with financial protection.

What’s in?

Car rental cover splits roughly down into two main categories:

• collision damage waiver (CDW) covers damage to the car itself following a collision and might usually, cover against theft is included.

The policy may come with what is known as excess. It also as a rule does not automatically cover the entire car. For instance you may find that the tyres are not included in the policy.

The second category is:

• third party insurance cover – this gives you insurance for claims made against you.

In the UK and some parts or Europe, all car rentals by law have to provide unlimited third party insurance. This provides peace of mind that if a claim were made against you, you have protection.

It’s important to note that the actual insurance cover provided might vary depending on where you will be driving your rental car.

What’s extra

When renting in the UK you may want to take out care hire excess insurance, when doing so check that the policy provides insurance for all parts of the car.

Should you rent in the USA on the other hand, you may need to think about providing the CDW itself.

Your third party insurance might be capped very low in some countries, the USA for instance.

In these circumstances, particularly when you consider the potential amounts involved in a claim, it may be prudent to purchase Supplemental Liability protection (SLI) to increase your third party cover.

Do also note that your policy will be subject to policy limitations, exclusions within its terms and conditions.

Where to buy

You could, of course, just purchase optional car rental cover cover from your car hire company.

They typically offer what you may need at the time you pick up the car keys. It may turn out to be quite an expensive way of obtaining this type of insurance though.

Often, a typically more cost-efficient option is to buy car rental insurance from one of the online specialist car hire insurance providers. They might typically be able to offer good deals and good cover – to give you that added peace of mind!

You may though, find it more appealing when you realise that a few minutes thinking about this type of insurance could save you a fair bit of money if you’re planning to rent a car.

To explain why, it’s necessary to consider a few typical characteristics of the daily car hire cover included by the rental companies in all-in deals:

• there is usually some parts of the car that is not covered in the insurance – damage any of those and you may find the costs charged directly to your credit card;
• it will be subject to an excess that may be as much as £1600 – that’s the amount you generally have to find yourself as payment of the first part of any claim;
• Depending on where you rent your car you may find that third party liability cover may be inadequate.

In a few countries such as the USA, the amount of insurance protection provided as part of the rental deal may be particularly limited. In such cases particular care is advisable when thinking about car hire insurance protection.

If you’re uneasy about the extent of your financial exposures arising from a car rental, you usually have three options:

· do nothing and take the gamble;

· pay the rental company additional sums to cover these risks for you (often called top-up insurance protection);

· take out what is known as top up insurance online (often referred to as car hire excess insurance).

Typically, the additional insurance cover provided by the online providers may be more competitively priced than that offered by the car rental companies.

of course as with any type of insurance policy you take out there will be terms that you have to check.

It does require a little forward planning whereas the rental company can be left until the very last second when you’re collecting the car, but thinking ahead a little may be a small price to pay given the sums you could potentially save.

So, supplementing your daily car hire insurance cover in advance might be a smart thing to do – unless you’re feeling either very lucky or very wealthy!

Excess is the required amount that you would have to pay if something happens to the rental vehicle in your care. When this insurance is included, the insurance company pays for any costs associated with repairs or covers the cost if they car were to be stolen. Sometimes providers include cover for tyres, underbody damage and glass that might be damaged while you use it.

Car hire insurance typically covers the person renting the car instead of covering the actual car. Excess waiver is neccesary to have if you are in the unfortunate situation of having an accident or a car stolen when under hire. Excess charges can typically vary from five hundred pounds to over a thousand pounds depending on the company and the vehicle.

How cover works

To find car hire insurance, you can go online and look over products and terms with a specialist. There are policies available that insure you for rent in the UK or Europe and also some for worldwide protection.

If you have protection in place, you would file a claim after your credit or debit card is billed by the car hire company after the accident occurs or the vehicle is stolen. The key for you is to decide whether it is better to take on the risk of a potential expense of hundreds or thousands of pounds in excess, or to pay a modest premium cost to know that you would not face a large expense.

It is important to remember that when you hire the vehicle you do not have to take the cover that is offered there and then. Some companies will try to push their insurance for the rental car on you while others simply make you aware that they offer it. Typically, you can find a better premium if you plan ahead, and shop with an online specialist.

Now that you understand the basics of car hire excess insurance, what it is about, and what it covers, you can investigate more thoroughly to find the exact right policy for you. You may need to consider:

• how much excess waiver to choose, with the obvious awareness that the greater the excess protection the more expensive the premium;
• what benefits you would want to include? You might decide to get a basic policy to save money, though the broadest protection probably comes by including the benefits for tyres, windows, and more.

Think carefully and consult with your specialist to find your best product.

Excess is the required amount that you would have to pay if something happens to the rental vehicle in your care. With this insurance cover, your provider would pay for the costs of repair cause by collision or a stolen vehicle. Sometimes providers include protection for tyres, underbody damage and glass that might be damaged while you use it.

Car hire insurance is a product that protects the renter of the vehicle as opposed to the vehicle itself. Excess waiver is a Godsend to have if you are in the unfortunate situation of having an accident or a car stolen when under hire. How much your excess may be typically rely on the company and the vehicle you are hiring. They may be as low as £500 and up to and over £1000.

How it works

To find car hire insurance, you can go online and look over products and terms with a specialist. There are policies available that cover you for rent in the UK or Europe and also some for worldwide protection.

If you have protection in place, you would file a claim after your credit or debit card is billed by the car hire company after the accident occurs or the vehicle is stolen. The key for you is to decide whether it is better to take on the risk of a potential expense of hundreds or thousands of pounds in excess, or to pay a modest premium cost to provide you with peace of mind that you would not face a large expense.

It is important to remember that when you hire the vehicle you do not have to take the cover that is offered there and then. Some companies will try to push their insurance on you while others simply make you aware that they offer it. Typically, you can find a better premium if you plan ahead, and shop with an online specialist.

Now that you understand the basics of car hire excess insurance, what it is about, and what it covers, you can investigate more thoroughly to find the exact right policy for you. You may need to consider:

• how much excess waiver to choose, with the obvious awareness that the greater the excess protection the more expensive the premium;
• what features you would want to include? You might decide to get a basic policy to save money, though the broadest protection probably comes by including the benefits for tyres, windows, and more.

Think carefully and consult with your specialist to find your best product.