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 a number of insurances including collision damage waiver (CDW or sometimes called Loss Damage Waiver - LDW) and third party liability insurance. These may well give you a false sense of security, as if the vehicle is damaged in an accident or is stolen, the person who rents the vehicle is usually liable for the first portion of the loss. This 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, of course, protect yourself against these excess charges by purchasing an excess waiver. Some companies will attempt to sell you this during the booking process, but it can cost you up to £20 a day and we suggest that you buy a standalone excess insurance policy instead. You will be amazed at how much you can save by doing this. Purchasing a standalone excess insurance policy from iCarhireinsurance.com via TravelSupermarket, for example, will cost you as little as £2.99 per day. A typical one-week cost is only £23.92 for European destinations such as Malaga, while a one-week policy for Florida would cost £47.92.
iCarhireinsurance is a specialist in providing car hire insurance, enabling you to buy complete peace of mind for a fraction of the cost. It can cover you for up to 60 days continuous car rental. What's more, hire car excess insurance from iCarhireinsurance.com protects the vulnerable parts of the rental vehicle that are usually excluded by the rental companies, even if you've bought their more expensive damage waivers.