Comprehensive Car Rental Insurance
One of the frequently irritating things about car rental insurance is not so much what is covered, but what is excluded from the package so prominently advertised when you are looking to reserve and book a hire car.
Usually, it is only when you arrive at the check-out desk to pick up the car that you discover just what has been left out of the advertised package and how much you will need to pay to top it up to a level of insurance cover that will give you financial security and peace of mind.
What many people do not know, however, is that it is possible to skirt the car rental company's insurance altogether by buying rather more comprehensive cover - often at a considerably cheaper rate - in advance from an independent hire car insurance specialist.
Of course, you will still need to show the rental company that you are adequately covered by such alternative insurance, but most will accept the cover thus provided and make any claims for loss or damage to the hire car directly with the insurers concerned.
Some of the areas in which the insurance packages provided by car rental companies are deficient or inadequate include the following: Loss or damage, theft and loss of use of the rental vehicle Whilst these kinds of losses are usually included in a collision damage waiver, frequently incorporated into the daily rate of rental by the car hire company, the waiver usually comes with a hefty excess attached - anything from a few hundred pounds to well over £1,000 in some parts of the world.
The rental company is therefore likely to offer its customers the option of an additional insurance to cover all or part of the excess.
Policies bought from an independent car rental insurance specialist, however, will typically incorporate cover against this excess liability at a fraction of the cost charged by the rental company.
Excluded areas Many hire car customers reasonably assume that the collision damage waiver covers any accidental damage to the rented vehicle.
This is not the case, however, since parts such as the tyres or wheels, glass or windows, roof and underside of the car are frequently excluded from the waiver agreement, leaving the customer to foot the bill alone if any damage is incurred.
Such a potentially expensive risk can be avoided altogether, however, by purchasing insurance cover - which typically extends to all parts of the vehicle - from an independent specialist in advance.
Third party liability Car rental companies invariably include third party risks in the insurance offered at the rental rate - indeed, local legislation is likely to insist that hire cars have a minimum level of third party cover.
For many drivers, however, the level of such cover is perilously close to the barest minimum and "top up" cover will be needed to provide protection against third party claims which can be very expensive.
Once again, whilst the rental company itself will probably be keen to offer such additional cover, the car rental insurance packages offered by independent providers regularly and automatically incorporate cover of up to $1 million for third party claims.
Terms and conditions When buying car rental insurance from such an independent provider, however, it is important to bear in mind that policies will be subject to insurer's particular terms and conditions that might affect, for example, the type of vehicle being hired or its replacement value.
Usually, it is only when you arrive at the check-out desk to pick up the car that you discover just what has been left out of the advertised package and how much you will need to pay to top it up to a level of insurance cover that will give you financial security and peace of mind.
What many people do not know, however, is that it is possible to skirt the car rental company's insurance altogether by buying rather more comprehensive cover - often at a considerably cheaper rate - in advance from an independent hire car insurance specialist.
Of course, you will still need to show the rental company that you are adequately covered by such alternative insurance, but most will accept the cover thus provided and make any claims for loss or damage to the hire car directly with the insurers concerned.
Some of the areas in which the insurance packages provided by car rental companies are deficient or inadequate include the following: Loss or damage, theft and loss of use of the rental vehicle Whilst these kinds of losses are usually included in a collision damage waiver, frequently incorporated into the daily rate of rental by the car hire company, the waiver usually comes with a hefty excess attached - anything from a few hundred pounds to well over £1,000 in some parts of the world.
The rental company is therefore likely to offer its customers the option of an additional insurance to cover all or part of the excess.
Policies bought from an independent car rental insurance specialist, however, will typically incorporate cover against this excess liability at a fraction of the cost charged by the rental company.
Excluded areas Many hire car customers reasonably assume that the collision damage waiver covers any accidental damage to the rented vehicle.
This is not the case, however, since parts such as the tyres or wheels, glass or windows, roof and underside of the car are frequently excluded from the waiver agreement, leaving the customer to foot the bill alone if any damage is incurred.
Such a potentially expensive risk can be avoided altogether, however, by purchasing insurance cover - which typically extends to all parts of the vehicle - from an independent specialist in advance.
Third party liability Car rental companies invariably include third party risks in the insurance offered at the rental rate - indeed, local legislation is likely to insist that hire cars have a minimum level of third party cover.
For many drivers, however, the level of such cover is perilously close to the barest minimum and "top up" cover will be needed to provide protection against third party claims which can be very expensive.
Once again, whilst the rental company itself will probably be keen to offer such additional cover, the car rental insurance packages offered by independent providers regularly and automatically incorporate cover of up to $1 million for third party claims.
Terms and conditions When buying car rental insurance from such an independent provider, however, it is important to bear in mind that policies will be subject to insurer's particular terms and conditions that might affect, for example, the type of vehicle being hired or its replacement value.
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