Car hire excess insurance in the UK covers the amount you are responsible for paying on your rental car insurance if the car is damaged or stolen. This type of insurance protects you from having to pay potentially large sums in the event of an incident involving your rental car.
What happens when you rent a car?
When you rent a car for business or a family holiday, it typically comes with a standard insurance policy that covers any damage to the vehicle; however, this policy usually includes an excess, which is the amount you must pay if there is any damage or theft. This excess can often be quite high, sometimes ranging from £500 to £2,000 or more.
What does the excess insurance cover?
Car hire excess insurance reimburses you for the excess amount you would otherwise have to pay if the rental car is damaged or stolen. Some car hire excess insurance policies also cover damage to parts of the vehicle that may not be included in the standard insurance, such as tyres or windscreens, and loss of keys.
What are the benefits of car hire excess insurance?
Excess insurance saves you from potentially high out-of-pocket expenses if something goes wrong with your rental car. Knowing that your excess is covered allows you to rent a car and enjoy driving without worrying about the financial implications of accidents or theft. You can shop around for car hire excess insurance, which is available from reputable companies. There is good news according to the Telegraph, as holiday car hire is getting cheaper.
What else should you consider?
Be aware of any exclusions, such as certain types of damage or specific situations that the policy does not cover. Make sure you understand the documentation required and the process for filing a claim to ensure smooth reimbursement.
Car hire excess insurance is a smart investment, especially if you rent cars regularly or are concerned about unexpected costs during your rental period. Third-party providers are typically less expensive and may offer more comprehensive coverage.
