When you hire a car, if you're in Europe and using a major hire company, there's a pretty good chance that your rental deal will include car hire insurance.
At least, it will to a certain extent.
Typically, a rental car insurance included in the rental price deal will provide you with:
- third- party liability coverage (there is a legal minimum in the UK and most European countries)
- there will be some type of CDW (Collision Damage Waiver) that will protect you by paying for damages to the hired car when it is leased to you.
This sounds like you are in the clear, right? Unfortunately, there are other items to consider.
You may need to consider:
- the rental deal in some countries (such as the USA) may include very little if any insurance and you'll have to purchase it separately:
- the CDW coverage your rental agreement provides you with maybe have a number of excesses and exclusions, which may mean that in the event of a car accident, you might be responsible for paying up £1600 even though you signed up for the car hire company's insurance.
Any extra costs are typically billed directly to the credit card on file.
Many rental companies may offer the option for signing up for top- up insurance that removes the excess costs, as well as other potential costs, although there are certain conditions attached.
However, you may be interested to know that if you purchase similar or even more comprehensive top- up protection from a direct rental car insurance provider, you may be able to get cover that is significantly more cost- effective.
The way this works is that you are reimbursed for the excess, as well as related charges (specified by your policy) that are charged by the rental company.
Typically it will cover:
- excess and excluded car area damage charges:
- personal cover:
- baggage insurance
- lost keys and lockout protection:
- drop- off charges
When you sign up for these extra coverages, you want to make sure you read your policy carefully, since there will be exclusions, limitations, conditions, and terms that will apply to your coverage.
If you are in an accident, your credit car bill could skyrocket when all the extra charges are applied.
By taking out extra car hire insurance, you can protect yourself in case an accident occurs. You should carefully research the costs and consider getting the coverage directly from the car hire insurance company to save money.
Click here for more information on Car Hire Insurance
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