Archive for the ‘Car hire insurance’ tag
What Car Hire Excess Might Do For You
If you have spent time and effort searching for a good car hire deal, it would be a pity if all your work counted for nothing because you forgot about car hire excess insurance.
Finding a great deal for car hire does not mean you are able to sit back and relax. Making sure that you’re getting a good deal on your car hire cover without sacrificing levels of cover is typically equally important. Your policy will be subject to policy limitations, exclusions within its terms and conditions.
If you look carefully at the cover provided by the cover included in the rental price of your hire car, you may find that it doesn’t necessarily offer a level of cover that you feel happy with.
There will typically be an excess, which is the amount of money the car hire company could ask you to contribute to the repair costs of the car if it were damaged during your rental.
There might typically also be parts of the car excluded from your collision damage waiver, for example, such as the:
l tyres;
l glass parts;
l under-body areas.
Therefore if any of these parts are damaged you may have to pay for them along with the excess for the repairs to things that are covered.
These of course are charged to your credit card could come as quite a nasty shock. The total costs could easily run into thousands.
Car hire excess cover may help in situations like this.
It is a type of insurance policy, which will cover the excess charges and in some cases also the excluded car areas.
Car hire companies will typically try to sell you this kind of insurance protection. Their policies may not be the cheapest around though and you may find that there is lower-cost cover available from online insurance providers.
This cheaper insurance cover may also typically be available as an annual policy, which you can use for rentals over a 12-month period. A policy of this type may also cover a number of named drivers at no extra cost.
Purchased from an online provider, car hire excess insurance cover can work quite simply.
If the worst happens and you have to claim on the insurance you are protected. If that happens, you can then simply claim on you car hire excess cover for reimbursement.
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Understanding Car Hire Insurance
For some people, hiring a car conjures up pictures of standing at the car hire desk, struggling to come to terms with the ins and outs of car hire insurance sometimes in a foreign language.
Is there a better way? It’s the question that perhaps springs to mind!
Happily the answer to that may generally be: yes, there is.
It is possible to make all of your car hire insurance arrangements in advance so that when you arrive at the rental desk all you need to do is pick up the keys and off you go.
Excess charges
The problem with the car hire cover provided by the car hire companies is that typically it still leaves you open to paying an excess if the car is involved in an accident that results in damage.
The excess is the amount of damage-related costs that the car hire company will expect you to contribute to the repair bill.
The excess charged by some car hire companies may generally be as much as £1600.
You also have to bear in mind that certain parts of the car may be excluded from the insurance.
This means that if these parts, usually;
l the tyres,
l glass;
l under-body areas;
were to be damaged you might have to pay for them.
This would be in addition to the excess if other areas of the car were damaged as well.
The final result may be that you end up seriously out of pocket.
Excess insurance
The protection that the car hire company will typically try to sell you when you pick up the keys is excess car hire insurance. Having that cover means that the excess on the policy would be removed or reduced.
If you are trying to deal with this with a queue of people behind you tapping their feet, you might not take the time to read through the terms and conditions. So you may drive away not really knowing what is or isn’t covered by your policy.
If you buy your own car hire excess protection independently of the car hire companies then you may find that not only do you have time to check over the policy features in detail (as your policy will subject to policy limitations, exclusions within the terms and conditions).
but also;
l your cover may be more cost effective than that of the car hire company;
l it might typically cover you and a number of other named drivers at no extra cost;
l the excess and the exclusions will be covered.
How it works
With excess insurance cover from an independent protection provider, you may find that if you’re involved in an incident and the car is damaged, the hire company will typically debit your credit card with the excess costs.
You then make a claim on your policy for car hire insurance and typically the costs are paid back.
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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.
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