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Importance of buying car hire excess insurance

When you want to rent a car, getting extra insurance may not necessarily be the most important thing in your mind. You may think it’s a waste of money if you’ve spent a lot on flights, car hire, and accommodation. But car hire excess insurance to eliminate or reduce liability can turn out to be a wise investment after all.

It will be a cost saver if something goes wrong

Even though you are an expert driver with clean driving record, you should not completely rule out minor accidents and damages. Most times, it may not even be your fault. For instance, a reversing car may brush off your car that was conveniently parked. A lot of things can go wrong even when the mistake wasn’t made by you. In fact, that is the main reason why you need to consider taking up an excess insurance for the hired car. This will prevent you from spending so much on damages if something goes wrong.

How car hire excess insurance works

This type of insurance is sometimes called Collusion Damage waiver. If the rented car is stolen or involved in an accident, there is a certain amount of money you need to pay to cover for those damages. Sometimes this payment may be unusually high. To avoid this type of situation, you can take up an excess insurance to cover for such damages.

What options do I have?

Taking up an excess insurance on your car hire is usually optional. You are provided the option, so you have to decide whether you need it or not. There are different rates which depend on the travelling area and the driver’s age. All these are factored into the cost of the excess insurance. You can decide to buy an excess insurance before you travel or buy from the rental company when you have reached your destination. Most times, buying before travelling is usually less expensive than buying from the car hire company. Before you sign and take up the policy, make sure you have carefully read the terms of the policy. Different providers have their different policies. So, it is important to understand every section of the contract before signing.

Whenever you are travelling and want to rent a care, it’s important to consider taking up a car hire excess insurance along. It will come in handy.

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