Guide to car hire insurance

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 may 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 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 insurance 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 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 ensure that you get the best deal on your car hire insurance you may choose to look online 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 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 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.

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