There is a lot of options when it comes to car hire insurance and excess reduction. Even if you have rented a car before, it can be difficult to work out the inclusions and exclusions when you are purchasing an insurance or excess reduction product. VroomVroomVroom has put together a quick guide to help you navigate the car rental insurance process.
When you hire a car in the UK, you will be liable to pay a specified excess amount if any damage is caused to the vehicle while it is in your possession. This amount can be up to £2000 for standard vehicles, and even more for larger SUVs and prestige vehicles. The excess amount for your particular car will be specified in the car rental agreement. The amount varies based on which car rental company you are hiring the vehicle from.
As an example, if you were to hire a car with a vehicle excess of £2000, this means you would be liable to pay up to that amount for any damage. The car rental company will pay any costs incurred above £2000.
This is one option you have to protect yourself against the financial liability amount. Whether your existing travel insurance policy covers rental vehicles, or if you are taking out a specialized rental vehicle excess insurance policy, this is considered third-party insurance. Here are some features of third-party travel insurance:
The car rental company offers you a choice of excess reduction products when you pick up your car. These products offer different levels of protection, and can reduce your excess amount and protect you from paying damage fees. However, you must meet the terms and conditions of the car rental agreement.
If you do not chose to pre-purchase travel insurance or any excess reduction products at the rental desk, you will be liable to pay for the full excess amount in the event of any damage. The car rental company will determine the cost of the repairs, and charge your credit card.