If you are going to travel this summer, then this article was written with you in mind. Why? Because this article will give you ABI’s 5 key pieces of advice that will help you get the best travel insurance at an affordable price. Here are those tips:
- Read the terms and conditions
It is a good idea to read the terms and conditions of your car hire before booking especially what these terms and conditions say about insurance and the size of insurance excess you are required to pay. Keep in mind that the insurance excesses is usually much higher for hire cars than a domestic motor policy.
Therefore, it may be a good idea to print this document and take it with you so that you may be able to highlight key sentences. Some of the things you need to highlight include any sentence that says that additional insurance from the firm is optional and not compulsory.
One more thing, while this may not be in the terms and conditions of your car hire, if you’ll be driving in a foreign country, make sure you understand how driving with a foreign license works. For example, driving in the US with a foreign license requires a couple of things. Make sure you’re prepared when traveling abroad by knowing these rules and regulations ahead of time.
- Make your arrangements in advance
Do you buy excess insurance from a car-hire firm that will protect you from paying a lot in case of a claim? If your answer is a yes, then it is good to get this before you travel. The best thing about these policies is that they can easily be found online. They are usually much cheaper in advance than the policies the car hire firm may be selling to you at the airport.
- Refuse any additional insurance that they may try to sell to you at the desk but you need to be prepared to cover a large deposit
Some of the car hire companies want to hold amounts that may seem disproportionate as a deposit. However, remember that some of them will not allow you to hire their car without one. Therefore, as we said earlier, it is good to be ready to cover it with a spare credit card when necessary.
This will ensure that your holiday spending is not negatively affected. If something occurs and your deposit is not returned in full, then a car hire excess insurance will help you a lot.
- Check out the vehicle before driving it
Ensure that you check out the car you have just hired and ensure that the firm’s record of damage if any matches your damage checklist. Don’t just hit the road and get on with your holiday before checking out the hire vehicle.
Ensure that you and the car hire company have the same view of the car’s condition before driving the car. This will help you minimize the risk of being accused of causing damage that was there when you hired the car.
- Take photos of the car before hiring it
Taking photos of the car you want to hire from all angles is very important as it will enable you to have evidence of the condition of the vehicle before you hired it. In case you are involved in an accident take action as you would in the United Kingdom. Take a note of the situation and get witnesses contact details if possible.
What is excess insurance and how does it work?
What is an insurance excess?
Insurance excess is the amount of money you pay towards an insurance claim before the policy covers the rest. In the UK, excesses on motor insurance cost about £200 but in most cases, the insurance sold by car hire firms has excesses of more than £1000. This leaves customers vulnerable to big bills. According to Money Expert, some insurance companies will cover you abroad as well as at home, so it may be worth checking your policy.
How does excess insurance work?
In response to this practice, there are policies that can cover you against paying large excesses in case you are involved in an accident or the car you hired is damaged. If a car hire company takes money from your credit card towards an insurance claim, your excess insurance will refund the amount taken.
Should I have car hire excess insurance?
No, you don’t have to. It is completely voluntary. Only remember that if you don’t have it and the car you hired is involved in an accident or damaged, you will have to pay the excess or pay for repair whichever is lower.
Can I buy a different insurance policy for my car hire instead of what the firm is selling?
Most car hire firms make it part of the deal that you will have to buy the standard level of car insurance from them when you hire a car. Therefore, there isn’t a chance for you to look for alternatives at this stage. It is usually important for you to consider the size of the insurance excess when looking for a car hire company.