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Excess Insurance Explained

Excess insurance, also known as excess waiver insurance and car hire excess insurance, is an optional insurance policy that protects you against any excess charges you may incur in the event your hire car is damaged or stolen.

The ‘excess’ (sometimes called the ‘deductible’) is the amount of money you will have to pay the rental company if your hire car gets damaged or stolen whilst in your care.

How Excess Insurance Works

Let’s say you hire a car and it comes with standard insurance included (commonly referred to as Collision Damage Waiver - CDW). As is the case with most motor insurance, it’s likely that you’ll still be liable to pay an excess in the event of damage or theft before the rental company cover the rest of the costs associated with repair or replacement. This means you could be liable to pay hundreds, if not thousands, if anything happens to the hire car – regardless of whether it was your fault or not.

By buying excess insurance from iCarhireinsurance.com, you’ll be covered against excess charges of up to £6,000. What’s more, our policies also cover vulnerable parts of the vehicle often excluded from standard rental company policies, such as tyres, windscreen, roof, and undercarriage.

In the event you’re charged an excess fee by the renal company, simply submit your claim within 60 days of being charged and the claims team will assess this for you. Claims are typically processed within 14 days of receipt.

What are my options when buying Excess Insurance?

1. Choose not to purchase
Car hire excess insurance is an optional cover so you can choose not to purchase it if you’re happy to take the risk. However, please be aware that these charges can be as much as £3,000 depending on where you’re travelling and the rental company you use.
2. Buy from the rental company
The excess waiver offered at the rental desk is often more expensive than stand-alone alternatives and usually less comprehensive. Research conducted by iCarhireinsurance.com found that costs for cover at the rental desk vary from £5 to £25 a day. What’s more, not all waivers sold by rental companies are zero excess, which means you could still be charged even with their cover in place.
3. Buy from iCarhireinsurance.com
iCarhireinsurance.com policies start at just £3.99 per day and £39.99 for an annual policy. Our policies are accepted at rental locations worldwide and our annual policies can be used for as many trips as you like, throughout the 12-month period. What’s more, our car hire policies are ZERO excess policies – you simply pay for the policy and that’s that!

To get a quote and buy a policy, simply click here!

PLEASE NOTE: The rental company will require you to leave a deposit or provide credit card details before they hand over the vehicle if you decline their cover – so please ensure you have funds available for this before collecting the car.

Why buy Excess Insurance from iCarhireinsurance?

We’re the only car hire insurance provider to offer European cover to residents worldwide. So, whether you’re a US resident on vacation, or an Australian business traveller – we’ve got you covered!

What’s more, our customers can fully submit claims for reimbursement via our online claims portal – making the process faster, simpler, and more secure.

We’ve also won several prestigious industry awards and received industry recognition with regards to customer service and technological innovation.

For additional information on the above, please visit our FAQ section or contact us to speak to a member of the team.