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Buying standalone car rental insurance

Buying standalone car rental insurance


Thanks to the relative strength of the pound against the Euro this summer, many things on your holiday are likely to be cheaper, says the Independent newspaper in a story dated the 10th of April 2015.

Whilst that might make the cost of hiring a car somewhat cheaper, too, there remains every reason for buying standalone car rental insurance before you go – from a specialist insurance provider such as Bettersafe, for example:

Buying from the car rental company

  • however favourable the exchange rate, the cost of buying excess insurance from the foreign hire car company may be more than you bargained for;
  • with the amount of excess ranging from several hundred to well over a thousand pounds (or more), depending on the car you have chosen and the company you are hiring it from, there is clearly a sound reason for buying excess protection insurance;
  • the rental company might play on your fear of such financial exposure by pressing a hard sell of excess insurance;
  • from the company’s point of view, this is a way of earning valuable commissions from the insurer and using such an income to reduce the amount it needs to charge for the rental of the vehicle itself – this giving the impression of cheaper hire charges;
  • if you choose it, however, the cover is provided at a daily rate which might add a considerable amount to your overall cost of hiring a car for your holiday or business trip;
  • a further drawback is the relatively limited protection that is given by the excess protection insurance typically provided by car hire companies – the exclusion, for example, of damage to certain areas of the vehicle, such as the tyres and wheels, windows, underside and roof;

Buying a standalone policy

  • it is possible to avoid both the high daily rate charged by a hire car company for excess insurance and to enjoy the protection of more comprehensive cover;
  • this involves buying a standalone policy from a UK-based provider before setting out on your journey;
  • payment of just a single premium is designed to keep your excess fully protected throughout the duration of your car hire period and to provide cover against any amount of excess you may be charged by the rental company;
  • choosing such a policy that is underwritten by Lloyds of London means that it carries an excellent reputation in any part of the world – and provides you with the most fitting answer in response to any attempt at a hard sell of a rental company’s excess insurance policy;
  • if you are a frequent traveller, you might want to consider making even greater savings on your specialist excess insurance by purchasing cover for a whole year and as many times as you need to hire a car on your travels.

Buying standalone car rental insurance, therefore, may prove a more appropriate and less expensive option than buying it at the last minute from the car rental company when you are already standing at the hire car check out desk.