Hire Car Insurance: The Best Ways To Save Money When Hiring Your Holiday Car

Hire Car Insurance: The Best Ways To Save Money When Hiring Your Holiday Car

We’re used to shopping around for the best deal on rental rates when we hire a car. We’ve even got savvy to the petrol charges on many agreements as well. What we’re less confident about are the insurance arrangements though and often we’ll buy the standard insurance that lacks cover, or pay way over the odds for “anything can happen” cover.

Here at CallmeSavvy we want you to get the best deal on your car hire insurance and so we’ve provided the following advice to achieve this.


The Excess

Most rental agreements cover the basics such as collision damage and third party costs. They rarely cover theft or accident damage though and so you could be left with the first payment of any bill and this is the excess – something that we are used to from our own insurance on our own cars.

This can be eye-wateringly high in certain instances but this generally represents the increased risk to the owner that the driver is likely going to care less about the well being of the vehicle than they might their own! However justified this position is, it’s also where a lot of profiteering can occur as the market place becomes more competitive on hire rates, and as such the excess costs are unreasonably expensive with many companies.

Additionally the hire company might tempt you into an excess waiver – firstly by having huge excess on the policy, and then secondly by offering you a waiver price that looks great in comparison. This will save you money, but nowhere near as much as purchasing a stand-alone waiver policy with a third party.

These are essentially insurance policies against the insurance! In an eventuality that you do need to pay the excess, your waiver policy provider will pay it for you. In comparison, where a hire company waiver could cost you upto £20 a day, a third-party waiver could come in at £2.99 – and what’s more the latter will probably last for much longer than the rental waiver, meaning you can use it across multiple rentals if that’s a likelihood.


Length Of Policy


If it’s a short break, say around a week, look at a daily policy for the duration of your useage. This will only be a few pounds a day on average.

If you have a longer trip or plan to rent multiple times across a certain timeframe, you should look into an annual policy, even if you are only looking at a month of so of usage.

This policies generally start around £39.99 – for a year! Even if you only used this for 10 days you’re only spending £3.99 a day in any case and against the hire company policies this is paying for itself in a matter of days!


The Benefits


In addition then to lower prices & higher savings, you’ll also:

Get better cover – you’ll often be able to secure a policy that covers more of the car than the original insurance to include items such as the doors, windows, wheels etc. You can also add additional drivers to the policies.

More Choice – you can choose which region the policy is for so that if you frequently travel in the States for example, the policy will be tailored to your requirements.

Less Restrictions – usually hire in the UK is included even in overseas policies so it will also pay to staycation!


How To Get It


Buy annual or daily excess policy from various online providers, some are specialists in this particular market and therefore tend to offer the better deals.

Print out the policy and consider keeping a digital copy on your phone or tablet for backup.

Refure the insurance or excess at the rental desk both when you book and collect. Depending on the rental company they may try and scare you into their policy – ignore this, it’s just an indication of how much money they make and how desperate they are for you to take it.

If you are involved in an accident, the normal process is that you pay the excess when you deliver the car and then make the claim when you return to the UK with your insurance provider.


Safe hiring!


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