Car Hire Insurance: Things to consider
Hiring a car while traveling abroad has always been a good choice for certain trips rather than using taxis to get around as they can work out expensive. But driving in other countries requires some consideration.
If you are planning a trip and intend on hiring a car, you must consider Car Hire Excess Insurance to cover the excess on the hired vehicle.
The rental agreement is the agreement that you must sign while hiring a car that will make you liable for a certain amount or cost, if you fail to return the hired car in the perfect working condition. It means in the event of damage, loss or theft to the hired vehicle you have to pay the first portion of the premium from your own pocket. This is known as an excess and can prove extremely expensive in different parts of the world. Car hire excess will cover these costs.
Car Hire Excess Insurance will cover you from the day your hire a car until you return it back. Alternatively, you can purchase an annual policy to cover multiple rentals within a year.
The degrees of protection offered by the Car Hire Excess Insurance companies are as follows:
Collision Damage Waiver: It the most basic cover offered by every insurance company. It will cover any excess you are forced to pay as a result of damage to the vehicle, up to a specified limit. These limits will differ with each company.
Fire, Theft & Vandalism:
Additional Covers: Different companies offer different covers in addition to the collision damage waiver. These may include cover for keys, tyres, windscreen and undercarriage.
Car hire companies will offer some form of car hire excess insurance when you go to collect you hire vehicle but this can work out very expensive. There are many companies offering car hire excess insurance at very competitive rates so you are advised to organize this insurance before you travel. You can research and compare these companies online for the best prices.
A car hire excess policy must be purchased before you sign the rental agreement.
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