Is car hire excess insurance worth it?

car hire excess insurance

Car hire has become very popular all over the world. Nowadays, whether you are travelling for holidays, or just having a road trip with friends, you can easily hire a car at very affordable prices, making it a convenient alternative to public transport. The only disadvantage is the risk of getting into an accident, damaging the car or even in a worst-case scenario, the car gets stolen.

In such situations, one pays the car hire company an ‘Excess’ fee which can be very expensive. But those who have excess insurance cover can save themselves from paying the excess fees since the insurance company will cover those costs. Click on this website to learn more about car hire excess protection and what it entails.

Is Car Hire Excess Insurance Worthwhile?

Car rental excess insurance is an insurance cover designed to cover the charges that a rental company slaps on its clients should the hired car get stolen or get any damages. It is advisable to take the excess insurance cover for car hire from third party insurance companies than taking them from the car hire companies. Unlike a third party cover, car hire companies can charge you more to reduce the excess liability. If you regularly hire cars for your travels, getting an annual car hire excess insurance cover from an independent company makes more sense since it could save you more money.

Therefore, then the answer to the question whether car hire insurance is worthwhile is yes. People who buy car rental excess insurance cover enjoy some benefits not available to those with no cover.

Benefits of Having a Car Rental Excess Insurance

People with a car rental excess insurance get to save some money. No matter how experienced you are as a driver, an accident can happen at any time. Even if you are not at fault, the car hire company will hold you responsible and require you to pay huge amounts of excess costs, even for the smallest of damages. But with a car hire excess insurance cover, you get to claim back all the excess costs, meaning you avoid using the money you had not planned to spend on car hire.

With the car rental excess insurance, you can have stress-free and relaxing holidays or trips knowing that you have a cover that cushions the excess costs of the car hire. You don’t have to worry that much about your car’s safety when you park it or even having to worry about driving on roads you are not well conversant with. One will have peace of mind knowing that the cover will sort the excess costs.

What is Protected by This Insurance Cover?

It is advisable to have stand-alone car hire insurance before travelling as it comes with affordable and reasonable annual or daily rates tailored for you to cover trips of different durations.

The excess insurance cover will cover vehicle parts with the highest risk of damage, like the undercarriage, windscreen, tyres, roof and doors. These are usually the parts that are not protected by the car rental companies own insurance cover. The policy can also protect against other possible accidents that can take place, like misplacement of the vehicle keys, among others.

Even though excess insurance is optional when hiring a car, one should consider it to avoid paying the expensive excess costs if something happens to the car.

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