How To Reduce Your
Car Rental Excess Insurance
& Save A Bundle Of Money

I recently reduced my car rental excess insurance and saved more than $500 on the total cost of a single car rental, by using an innovative online insurance product.

And I'm so happy with the outcome, I want to share my experience with visitors to this site, as it may be useful information to consider when you next organise a Gold Coast car rental.

I am a regular car rental user and, being conservative in nature (at least, when it comes to insurance), always opt-in for the reduced excess insurance.

(Check here to clarify car rental insurance and excess details in Australia.)

I've never liked paying the extra insurance of around $24 per day (who does?)... but at least I have peace of mind in knowing that I'm not going to be hit with a bill of $3,000 if some other driver should carelessly hit my hire car.

The average period I usually hire a car rental for is only a couple of days, so I've never paid out a huge enough amount in excess reduction insurance at any one time to sufficiently motivate me to find another solution... until recently.

Over the Dec/Jan period, I'll be hiring a car for 28 consecutive days. And when I was working out the costs, the car rental excess insurance became a real issue.

I was quoted a rate of $23.55 per day to reduce the car rental excess insurance. So, 28 days x $23.55 = $659.40 !

This is almost the cost of my annual insurance on my own motor vehicle! Couple checking map for directions on Lamington National Park Drive, Canungra, Queensland TQ

And the cost of the car hire over the 28 days was $925, which is not much more than the car rental excess insurance!

I checked around with a couple of the major car rental firms, and the excess rate for all was around $24 per day.

So I checked with a couple of Australian insurance companies (ie. as opposed to car rental firms), to see if any of them offered a policy to reduce the excess on a rental car cost.

But no luck there.

However, in my research, I found a clever, innovative car rental excess insurance product that specifically applies to the Australian/New Zealand market, provided by an insurance company based in the UK.

It suited my needs perfectly, and I was able to buy an annual policy for Worldwide Excess car rental insurance for up to 31 consecutive days for just $142!

And, because it's an annual policy, I'm covered for any car rental over the next 12 months, as long as each individual hire does not exceed 31 days!

How's that for value?

I've 'saved' $518 already (if you're curious, check out the savings calculations here, and I know I'll save more over the next 12 months, when I hire a car rental again.

The skeptical among you may be thinking, how do I know it's not a rip-off? Girls in 4WD jeep on Gold Coast, Queensland TQ

I admit I was a bit hesitant at first. (I guess it's that same conservatism that leads me to always opt-in and pay excess insurance.)

But I reasoned that we're now in the age of global commerce, and I buy other products over the internet (such as books from and stuff from, so why would insurance be any different?

And I did check out the UK insurance company's credentials. They won the 'World’s Leading Innovative Ecommerce Travel Product' from The World Travel Awards in 2004 and 2005 (ie. when the product was first introduced).

These annual awards celebrate achievement in the travel industry and are based on votes cast by travel industry professionals throughout Europe.

Some internet sleuthing on the World Travel Awards website for the two years mentioned revealed that, sure enough, Insurance4carhire did indeed win these awards.

Also, the company has had a lot of coverage in the UK press in newspapers such as The Guardian, and I read a couple of these articles on-line.

Satisfied that Insurance4carhire is a reputable company, and given their products are specifically suited for the Australian / New Zealand market, I was sold!

And it was clinched by the easy on-line transaction, and their simple emailing of the policy to my address. What a no-brainer!

I am very pleased with my experience with this company and the excess insurance product bought.

Oh, and I'm very happy to have saved more than $500!
UPDATE: Unfortunately, Insurance4CarHire no longer offer this insurance product for Australian/NZ residents. However, if you are visiting Australia and hiring a car, you MAY be able to purchase this excess insurance product if you are a resident of one of the following countries: the UK, The Channel Islands, The Netherlands, France, Spain, Italy, Sweden, Republic of Ireland or Germany.
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