When renting a car, most people will take the time to scan through what the various car rental companies are offering to ensure that they get the best possible value for money. It seem a little strange therefore that many people will automatically accept insurance for car rental from these companies without even considering if they could have got a better deal elsewhere.
In fact it could be argued that many people don’t even realise that they have the option to shop around and go elsewhere for a good deal on insurance for car rental.
Even if your car rental comes with some insurance included in the price it is unlikely that this will provide an adequate level of cover. Of course, following an accident if you are willing to pay large excesses (the amount of financial contribution you’ll be expected to make – usually between 500 and 1500 pounds) and fork out for damage to windscreens, wheels, tyres and roofs (these are frequently excluded from many car rental company policies) then it’s possible you may find the car rental company’s policies to be perfectly adequate!
It is possible to pay extra to include those ‘exclusions’ or to reduce the excesses payable but this form of insurance can be extremely expensive if bought from the car rental company.
There are insurance companies who specialise in insurance for car rental and who can provide all of your insurance or just top-up cover for excesses at much more competitive prices than those typically found at the car rental desk. These policy types work on the basis that if you have to pay the rental company excess after an accident, you will be able to claim this amount back from your direct insurance policy. The direct insurers in the same fashion will also cover those areas of the rented vehicle that are commonly excluded from the car rental company’s insurance for car rental.
One type of cover that these companies can offer is an annual policy, which covers you the policyholder and not the rental agreement. What this means is that you can use this policy again and again in the course of the year for all your car rentals. It is subject to terms and conditions that generally state (e.g.) that the renter would not be covered for specialist vehicle types such as sports or vintage or those over a certain value.
The independent companies also offer daily rates as well. They also sell other forms of top-up insurance that provide additional covers in area such as third party liability.
If you are being careful about what car rental company to use and looking for the best deal possible, it may be a good idea to apply the same disciplines and techniques in your search for the best option on insurance for car rental. You could save yourself a lot of money; get a more flexible policy and better cover. It may be a good idea to get those fingers tapping and that Internet searching underway!
Tags: Insurance For Car Rental