Car rentals are carried out in countries all over the world for all types of vacations, business trips, or family visits. While the reason for renting a car can vary, travelers often face the same problem of fines or exorbitant repair costs in the event of damage to their temporary vehicle.
To avoid this on your next trip, consider getting excess rental car insurance, which will protect you from any additional costs that the rental company won't forgo.
Why Do You Need to Increase Your Car Rental Insurance?
Imagine this: your car was damaged or stolen and now you need to notify the company you rented the car from. Nobody wants a situation like this to disrupt their vacation or trip abroad. Unfortunately, they will only cover the cost of a portion of the damage and are also very likely to charge you additional costs in addition to what you will actually be required to pay. Your cost will of course depend on the extent of the damage and company policy - but this is rarely a quick or cheap fix!
Hit The Road Knowing You're Protected
Renting a car when traveling abroad allows you to hit the road at your own pace and freely explore new lands that you wouldn't get on public transportation. However, we are well aware that at first, this may seem like a daunting task. Once you book your rental car, the last thing you want, in the event of an unfortunate accident, is to be left behind. In this rare case, we want to make sure that you are as protected as possible. This is where supplemental rental car insurance comes in.
Car Rental Surplus Insurance - Explanation
What is "Excess"?
You've likely come across the term "deductible" when purchasing auto insurance on your personal vehicle. Simply put, the "surplus" is the voluntary amount you must pay to your rental company if your vehicle is damaged or stolen.
What is Excess Car Rental Insurance?
Car rental excess insurance is additional insurance coverage that can be added to your general car rental insurance. This type of coverage will insure you against the aforementioned deductible which you will be required to pay in the event of an accident or theft of your vehicle. In short, you will be covered for these extra costs.
This is where the excess car rental insurance policy comes in. It will limit the impact of an incident like this on your portfolio and your experience abroad.
How Does Excess Car Rental Insurance Work?
For example: If you're renting a car (available with Holiday Extras here), the car itself often comes with standard insurance, known as a collision damage waiver. In most cases, the insurance company will include in the clause a voluntary deductible that you will have to pay upfront if the vehicle is damaged or stolen.
In such cases, you may be paying hundreds of pounds for something as simple as a scratch.
So let's say you have a voluntary raise of £500, even with something as simple as a scratch, you will have to pay that amount before anything else is covered. This is where excess rental car insurance comes in. Purchasing a surplus rental car gives you very important peace of mind so that you are protected from these additional charges, should anything untoward happen to the rental car while it is in your possession.
What Policy Should I Buy?
Collision Damage Waiver (CDW) or Loss Damage Waiver (LDW) will only protect certain parts of the vehicle from damage caused by an accident. Thus, you are looking for a policy that protects you from additional costs related to damage to the roof, windshield, windows, or tires, whether you are in China, Spain, or Brazil.
You can choose between excess car rental insurance policies that are valid for one trip abroad or those that will cover you for an entire year. Depending on the number of trips you plan to take in the next few months, you can choose the offer that suits you best.
Best Travel Advice
Before arranging your insurance, it is a very good idea to check how the road regulations work in the country you are visiting. Are there any laws different from the UK that you should be aware of? Having this inside knowledge of the highway code will only reduce the risk of an accident.
Thinking of renting a car on your next trip abroad? It would be a very good idea to get a spare rental car insurance policy well in advance of your trip. This will help reduce the risk of frustrating the additional costs charged by the vehicle owner in the event of an accident on the roads of a foreign country... and gives you peace of mind to boot!
Author Plate Sam Walker is an insurance settlement expert at LowerHire, a company that offers additional rental car insurance policies for one trip and multiple annual trips at low prices. Travelers can rest easy knowing that they will be fully protected against hidden car rental fees and expect a stress-free rental experience.