Car Hire Excess Insurance – Exactly what I am covered for & the importance of Sums Insured
Hiring a rental car, whether at home or abroad, may present different challenges than driving a vehicle which you own and, as such, a tailored insurance policy could help to ensure that you are covered for every eventuality. A car hire excess policy could also stand to make you substantial savings compared to hiring an excess waiver from a car rental company.
In addition, car hire insurance offers all the cover you would expect to see in a standard car insurance policy, such as personal accident cover. Car hire excess insurance differentiates itself from standard car hire insurance policies in that it will pay out the excess or ‘deductable’ on repairs to a fixed amount. This allows drivers to avoid paying the first portion of replacements costs, which can range between an average of £500 and £1,600 per repair, though this may be higher in some cases. Knowing how much excess is already met by your car insurance policy, will mean that you won’t be surprised by a larger than expected excess bill should you become involved in a motoring incident.
Limits & Sums Insured – Why the level is important
Wherever you are in the world, it’s important that you are fully covered in terms of insurance and excess. This also prevents unnecessary dents in your holiday budget due to excess costs. At Questor, we understand this need and offer up to £10,000 for European Rentals and £75,000 for Worldwide Rentals. This level of cover can vary between excess insurance providers and you should investigate this prior to purchase. It represents the maximum amount of excess, that if exceeded, you might otherwise be liable for. We believe ours to be one of the best levels of cover out there.
A variety of factors such as legislation and economic fluctuations can also influence price variations for repairs and replacements. As an example, new EU rules implemented in 2010 allowed part manufacturers to sell directly to independent garages or franchised dealers, potentially slashing repair costs.
Younger and older drivers covered at standard rates
Though many car insurance providers will offer cheaper policies to older drivers, as they feel they present less risk on the roads, this assumption is not always true. While figures from the Institute of Advanced Motorists (IAM) show that the average rate of drivers killed or seriously injured (KSI) on the roads was higher amongst those aged 20 to 24 (0.98 per 1,000 licence holders) and the lowest amongst drivers in their sixties (0.09 per 1,000 licence holders), other figures from IAM show that the impact of accidents can increase with age. As an example, drivers over 80 are more likely to suffer serious injury in road collisions due to their frailty. Despite these differences, we ensure that all drivers aged between 21 and 84 are offered standard rates.
Key repair excess covered
Although many drivers complete safety checks on their vehicles, the damage that occurs as a result of accidents, breakdowns or as a result of a host of other reasons can be unavoidable. The top ten causes of a breakdown, according to the AA, include a flat or faulty battery, flat/damaged tyres and wheels and a build-up of faults with the starter motor. Questor Insurance includes the tyres, windscreen, auto-glass and underbody of the hired vehicle in its car insurance excess policy. The policy also goes one step further by including the excess costs of loss or damage caused by fire, theft, vandalism as well as towing costs and loss of use of the Rental Vehicle.
Cover for a wide range of cars
Car hire choices can vary depending on various factors, such as storage requirements or how many people will be travelling. Wading through different car hire insurance policies that may offer different prices for certain makes or models can be a logistical nightmare for drivers. Whether you drive a small two-seater or a larger five seater, at Questor Insurance we offer cover for cars and MPVs of up to 9 seats. This allows you the freedom to base your decision purely on the practical needs of your group, as opposed to factoring in whether the cost of a car insurance policy will be increased because of your choice.
With a number of comprehensive benefits, including those above, as well as optional extras to extend the scope of your policy, we aim to anticipate and meet a wide variety of driver needs to ensure that you get the best from your car hire excess insurance cover. For any more information please feel free to browse our Policy Documents or contact us.
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