Do I Need To Get Excess Insurance Policy?

Do I Need To Get Excess Insurance Policy?

It’s a great plan to check at the excess cost on your car hire agreement upfront. If it’s higher than you could afford it might be meriting taking out a car hire insurance policy. You’ll be at ease knowing that you can claim the excess

Getting Excess Insurance When Hiring a car

When you’re renting a car, a hire car excess insurance might help you save money. This is because hire car companies can employ a £1,000 excess when you’re renting a vehicle. In this manner, you will shoulder the excess for any damage up to the value of £1,000. However, if you hold excess insurance, these costs will be covered.

Shop around to get the best and most affordable deal. You must avoid getting insurance from your rental company. This can be very expensive, look for a cheaper deal online or anywhere else instead. In doing so, ensure that you get a cover that will not compromise or break the terms of your hire contract.

What Type Of Car Hire Insurance Should I Get?

You have to decide whether you need to consider a daily or annual hire car insurance policy. Now, if you’ll be using the car just for a short holiday, they getting daily excess insurance will work for you.

However, if you frequently rent a car, annual excess insurance would suit you best. When doing so, you have to get the ones with a higher limit to claim more than once when you need to.

Other Types Of Insurance

Excess insurance could financially secure a bunch of money if you have a large mandatory excess on your other policies.

For instance, you may be obliged to pay a high theft excess on your motor insurance, or for subsidence claims on your home policy. You can also consider a lifestyle excess policy, which pays the excess on several insurances. This allows you to have cover in terms of pet, car, and travel insurance.

You might also face more expensive compulsory excesses if you’re a new or young driver because you are more likely to make a claim.

Choosing The Type of Excess Insurance

Car hire: This includes you for rental vehicles where it demands high excesses. You can get cover on a daily or annual basis, based on the length of time you’ll rent the car.

Single policy: This cover the excess on one of your insurance policy, like such as car insurance or travel insurance. This is most useful if you wish to save on your premium due to high excess.

Lifestyle policy: This covers the remainder on a variety of insurance policies, such as your car insurance, home insurance policy and travel insurance. This is normally the most affordable means to cover everything, but there will be a cumulative cap on the amount that you can claim.