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Your car hire insurance guide

Posted on March 11, 2010
Filed Under Auto Insurance, Auto Repair, Car Auctions, Car Buying, Car Donation, Car Insurance, Car Rental, Car Stereo |

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When you rent a car, you are likely to see premiums for unlimited third party liability insurance protection included in your rental cost as this protection is legally required in the UK. You might also find you are also going to be offered excess car hire insurance by the company you rent your car from. This part of the policy provides protection in the event that the car you had hired was stolen or it was damaged, it is the excess.

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 the insurance 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 were to be involved in an accident or the vehicle was stolen and you has a policy to rely on a claim may be made once the hire company had billed you. 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.

Realise that when you go to rent a car, the rental company’s car hire excess insurance is optional. Some companies will try to push their policies 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 cover, 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 take out, with the obvious awareness that the greater the excess protection the more expensive the premium;
• what features you would want to include? You might choose to get a basic policy to save money, though the broadest protection probably comes by including the benefits for tyres, windows, and more.

When considering any policy also check it over carefully and consider consulting with your insurance provider.

 

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