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Car Hire Excess Insurance vs Damage Refund Insurance | Explore by Expedia

“Finding the best deal on a rental car isn’t just about getting the cheapest vehicle. Even when you have found a good deal, you should also take into account the extras that you have to pay for at the rental point or when returning the car, which can increase the cost substantially. One of the most expensive extras to consider is the cost of car rental insurance. When you rent a car with Expedia, you can be sure that we only work with the most reputable car rental companies to find you the best deals. That means we don’t just focus on the core price, we also look at the fine print to make sure there’s nothing lurking around that could give you an unpleasant surprise. One of the potentially most expensive extras is car rental insurance. In this article, we’re going to take a closer look at car rental excess insurance and damage reimbursement insurance, two extras you might want to consider to help you understand each one.

car rental excess insurance ————————-

Reading: What is damage refund insurance

If you’ve ever been involved in a car accident, and let’s face it, at one time or another most of us have, you’ll know that you have to pay the first part of any claim you make. that is known as excess. Some people choose to reduce their deductible to zero, but that increases the cost of their policy. car rental excess insurance covers the cost of that excess and offers additional protection.

What does car rental excess insurance cover? ——————————————-

When you rent a car, you typically receive collision damage waiver (cdw) or liability insurance as standard. Although this level of car rental insurance will cover you in most eventualities, it makes you responsible for paying the first part of any claim, that is, the excess. this deductible can vary greatly from one car rental insurance policy to another. it usually sits somewhere between the £500 and £2,000 mark. That means if you are involved in an accident you may have to pay the first £2,000 of the claim!

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Some excess insurance also covers the most vulnerable parts of the car, which are more likely to be damaged. which includes the tires, wheels, roof, windshield and landing gear. These car parts are often not included in standard car rental insurance policies.

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buy car rental excess insurance ———————————

Some companies will try to sell you additional insurance at the counter when you pick up your rental car and, as you might expect, the prices they usually charge can be much higher than what you should be paying. the alternative to this is to purchase your excess waiver coverage as a separate policy before you travel.

There are many sites that allow you to do a car rental franchise insurance comparison to help you find the right deal for you. You can also read car rental franchise insurance reviews so you can understand more about each product.

See also: Property and Casualty License Exam – How to Pass

car rental damage reimbursement insurance——————————-

Car rental damage reimbursement insurance is actually very similar to the excess waiver policy, but it works in a slightly different way. When renting a rental car, the car rental company will request a deposit to cover the value of the franchise. then, if the vehicle is damaged during the rental, they will use the deposit to pay the excess. When taking out damage reimbursement insurance on your rental car, you can claim this cost by presenting to your insurance company:

evidence of payment made: a credit card statement or a copy of the invoice will suffice.- copies of damage reports: a report of checkout of the car rental company detailing the damage to the vehicle.- a copy of the supplier’s accident form – this must be completed before the rental ends.

purchase damage reimbursement insurance for your rental car————————————————

The higher your car rental policy deductible, the more you’ll pay for damage reimbursement insurance coverage. Again, the best deals are usually far away from the car rental counter, so do your research before you travel. As a guide, for a vehicle in excess of £500, you should expect to pay between £2 and £5 per day for this type of cover.”

See also: Adding Your Child to Your Car Insurance | Bankrate

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