Excess Insurance Product
for Australian Car Rentals
Fed up with paying $24/day to reduce your car rental excess? An innovative excess insurance product is now available for the Australian market.
It will save you a bundle of money and still ensure peace of mind.
There are three types of product policies suitable for car rental users in Australia:
The policies are provided by Insurance4carhire, a UK-based insurance company, and the costs are shown in pounds sterling (GBP). You can check the estimated equivalent costs in Australian dollars here, & also in New Zealand dollars for our Kiwi friends.
There's a lot of interest in this excess insurance product, and the main question asked by potential customers is: how does the Car Rental Excess Insurance Policy work?
And here’s the answer provided by Insurance4carhire:
Insurance4carhire.com insures you as the policy holder, not the rental vehicle.
So when you’re collecting the rental car and signing the agreement, simply decline the rental car company’s option to reduce the Excess.
You don’t need to tell them you have a separate policy, nor show them any documentation. Excess insurance is purely voluntary.
In the event of an accident or theft, the rental car company will charge the agreed Excess amount to your credit card.
And then you claim reimbursement from Insurance4carhire.com.
Their website lists the procedure for making a claim, and it appears straightforward and commonsense.
It also has a lot of other Frequently Asked Questions, so refer to these for any other concerns or queries you may have.
The key features and terms & conditions are outlined below and, if interested, you should refer to Insurance4carhire's website for full details.
Features of the Car Rental Excess Insurance Product
- Annual policies cover any one incident up to £2,000 and up to £3,000 in any one year.
[£2,000 is equivalent to ~ A$4,800. The Excess included in most Australian car rental agreements is between A$3,000 – A$5,000.]
- Valid with all car rental companies and at all car rental locations.
- Allows an unlimited number of car rentals over the the 12 month cover period.
- Covers the Policy Holder and all additional drivers names on the car rental agreement.
- Includes cost of damage to the vehicle under-carriage, and window and tyre damage.
[The Excess insurance offered in Australia by car hire firms typically does not include these items – so this is another bonus!]
Main Terms & Conditions on the Annual Excess Policies
- Policy Holders must be aged between 21 and 74 (except for those purchasing the Excess Worldwide 75-85 policies, who must be aged between 75 and 85. Named drivers can be aged between 21 and 85).
- Rentals must not be longer than 31 continuous days except for the Excess Worldwide 60 Policy which allows rentals of up to 60 continuous days.
- Not valid for commercial vehicles (eg. transit vans, trucks), camper vans, mobile homes or passenger vehicles with more than 9 seats.
- It is not valid to rent a car within 150 kilometres of your usual place of residence. For example, if you live in Brisbane, you are not covered to rent a vehicle on the Gold Coast, as this is only 75km away. The rental location must be more than 150km away from your Brisbane home.
Disclaimer: Please ensure you read the detailed terms and conditions for each policy on Insurance4carhire’s website, and understand what is included and excluded. The policy is written in plain English (ie. no legalese) and is easy to understand.
Whilst I have purchased the Excess Worldwide 31 policy and saved a considerable amount of money on car rental excess insurance, I first checked that this policy met my personal needs.
You are responsible for checking that your own circumstances and needs will be satisfied by these products before electing to purchase.
Note also that other markets, such as USA, Canada, Europe, and South Africa, are also catered for with Excess insurance products. Refer to Insurance4carhire’s website to see if the products meet your needs.
Please contact the insurance company directly (through the Contact form on their website) if you have any questions regarding their products.
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