Car Hire Insurance & Excess Reduction Options
What Insurance is Included by the Suppliers?All suppliers displaying their car hire packages with Car Rental Buddy include basic insurance coverage - collision damage waiver, theft waiver, and third party protection.
When Do I Pay the Excess?Excess is the amount you are liable to pay in the event of an accident or if the rental vehicle is stolen. As with your personal car insurance, if you are involved in an accident or theft has occurred, to make an insurance claim you will need to pay the detailed excess as per your policy.
If your rental package has an excess payable of $3,300, it means that you are only liable to pay up to a maximum of $3,300 in the event of theft or an accident. If the damage cost is $10,000, you still only pay $3,300.
Why is the Standard Excess Amount Payable so High?The standard excess amount for a hire vehicle is generally quite high and is much higher than the standard excess payable for your personal car insurance. It also varies between suppliers, the type of rental vehicle, location, and age of driver.
The important aspect to remember is that rental vehicles are not in the same category as personal vehicles. Car hire vehicles have scheduled bookings and an accident or theft will result in loss of business for the supplier.
Furthermore, every driver that rents a vehicle will have their own driving history and insurance claim record. Whilst the circumstances surrounding the purpose of insurance are similar between your personal and car hire policies, the consequences are different for a supplier and an individual. Unfortunately, car hire suppliers are unable to determine or detail whether a driver is a rating one or not.
Remember: When organising your own personal car insurance, there are various questions insurance companies will present, and the premium you pay can change based on the responses you provide. For example, you generally list on your insurance policy the main drivers of your vehicle. Should a person not listed on the policy be driving your vehicle and they have an accident, your insurance company may void your policy cover.