Car Hire Excess Insurance - What is it?
What is excess?
The ‘Excess’ is the amount you have to pay to the rental company when your hire car is damaged or stolen, this can also be known as the ‘Deductible’.
If CDW (collision damage waiver) is in place, you may still be liable for an amount with the rental company in the event of damage or theft, this is known as an excess fee.
What is Car Hire Excess Insurance?
Car hire excess insurance is an optional insurance coverage. This will cover you for the excess you may be liable for in the event your hire car is stolen or damaged. Essentially, excess insurance is an additional insurance policy which will cover you against the excess charges.
This can also be referred to as Super CDW cover or an Excess Waiver.
How does this insurance work?
So, for example, you hire a car and the vehicle comes with its standard insurance, known as CDW (collision damage waiver). In most cases, when the hire car is stolen or damaged you’ll be liable to pay an excess amount before the rental company covers the rest of the cost. This means if you don’t have an excess insurance in place, you could be liable to pay hundreds, maybe even thousands, if your hire car is stolen or incurs any damage.
Questor Insurance will cover you up to £10,000 for any physical loss or damage so if you were to have an accident, the rental company may charge you for that damage. For example, you have to pay £500, you would then claim that back for reimbursement through us, using our simple online claim form.
Taking out a Car Hire Excess Insurance policy with Questor Insurance will give you peace of mind knowing you’ll be protected for the excess charges you might be liable for with the rental company. Our policy also has extra benefits such as cover for lost keys, Miss-Fuelling, loss or damage to Auto Glass, Roof, Tyres, Wheel Rims, the Under Body, Towing and Loss of Use.
What is CDW (Collision Damage Waiver)?
Collision damage waiver is the main insurance to cover you for the full value of the hire car. This generally leaves you liable for an excess fee. You would need to contact your rental company to check the liability in the event of damage or theft.
Buying from Questor Insurance
Questor Insurance Car Hire Excess Insurance policy starts from just £2.99 per day and £44.98 for an annual policy. Our policy can save you up to 91% compared to taking an insurance policy directly with the car rental company.
The excess insurance that may be available with the car rental company is known to be more expensive than stand-alone policies such as our Car Hire Excess Insurance policy. Monthly research carried out by us has shown that taking insurance directly with the car rental company could cost you up to £32.29 per day. See our comparison table below:
*this data is accurate as of 3rd October 2018
- Excess on the car hire agreement
- Tyres, windscreen, underbody, towing and loss of use
- Any driver aged 21 or above at the same premium
- Cars and MPV's up to 9 seats