With many people renting cars and not even aware of these charges, we explain what the product is and how you can save money...
When you hire a car your rental agreement will usually include cover such as a collision damage waiver (CDW or sometimes called Loss Damage Waiver - LDW) and third party liability insurance.
Such policies shouldn't give you a false sense of security, however, because if the vehicle is damaged in an accident or stolen, the person renting it is usually liable for the first portion of the loss.
That portion is called the “excess” and it varies from one rental to another. However, it's usually between £500 and £2,000 depending on the vehicle type you rent - but it can be substantially more on high value cars.
You can protect yourself against these charges by purchasing an excess waiver. Some companies will try to sell you a waiver while you book, but it can cost up to £20 a day and we suggest you buy a standalone excess insurance policy instead.
You'll be amazed at how much such a policy can save you. Purchasing a standalone excess insurance policy from iCarhireinsurance.com via TravelSupermarket, for example, costs as little as £2.99 a day. A typical one-week charge is around £24 for European destinations, such as Malaga, while a one-week policy for Florida would cost about £48.
Policies such as that from iCarhireinsurance provide peace of mind for a low daily cost. A standalone excess policy can cover you for up to 60 days of continuous car rental. What's more, car hire excess insurance protects vulnerable parts of the rental vehicle usually excluded from damage by rental companies - even if you've bought their more expensive damage waivers.