Should I Buy Car Hire Excess Insurance From A Hire Company?

Hiring a car is a cost-effective way to own a car in the UK and gives you more freedom to conveniently explore a foreign country when you go on holiday.

When you rent a vehicle from a car hire company, you will be offered car excess insurance. The cost is usually built into the price and in some rare cases can be as little as £2 but generally are more expensive than getting cover externally.

The price of car hire insurance will depend on the hiring company you use and the type of car your rent. Better quality cars come with higher excess insurance fees.

You can read more about the types of insurance on offer when you hire a car here.

But do you need excess insurance, and if so, should you buy it from a car hire company?

Do You Need Excess Insurance When You Buy A Car?

No, you don’t but if you are involved in a car accident or the vehicle is stolen, it can save you a lot of money. 

Car hire excess typically covers you for repairs between £500 and £2000. The insurance company of the car hire firm pays anything over the excess.

However, you’re not given the option to choose who repairs the damage - and the lack of control leaves you at the disposal of the car hire company. 

According to Which? one customer wrote in saying they had been “charged £1,154 for a chip that should have cost £75 at most to fix.

Are There Any Other Options To Buy Car Hire Excess Insurance?

Yes, there are plenty of options. You have the freedom to choose whichever insurance company you prefer - often with better rates and favourable excess cover.

For example, a car hire company will offer a collision waiver policy of up to £2000 which covers you for accidents or theft. However, there will usually always be a price to pay.

When you buy car hire excess insurance from Bettersafe, we refund the excess so you are not left out of pocket.

What Should I Look For When Buying Car Hire Excess Insurance?

It is often the case that holidaymakers are forced into purchasing car hire excess insurance by a pushy salesman. If you do plan to rent a car overseas, the smart move is to organise excess car insurance before you go.

Before you agree to a car hire insurance policy check the following:

How much does the policy cover you for?

• Does the insurance refund the full cost of the excess?
• Are there any other costs you would need to pay?
• What does the policy cover you for and what’s excluded (e.g. key loss coverage, lockout)
• Is roadside assistance included? 
• Does the insurer offer free cancellation?

Bettersafe reimburses you for any charges you are obliged to pay to your car hire firm for damage to the vehicle or if the car is stolen. Our hire car excess policy covers you for costs up to £7500.

Policies also include: 

• Key cover
• Lockout
• Misfuelling
• Drop-off charges up to £300
• Road rage or carjacking

For more information about car hire excess insurance, contact us today.