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How does your car hire insurance work?

If you are interested in knowing more about how to save money using our insurance, read on!

Car rental desks around the world take millions of pounds every month by selling expensive car hire excess protection policies - frequently charging in the region of £10 to £20 a day - but you can avoid paying over the odds by buying an independent policy through MoneyMaxim from around £2 per day.

If you renting a car in Europe, Australia and New Zealand (or normally anywhere in the world through a UK rental company) you will be looking for an 'Excess Insurance Policy' which will cover the excess, and parts of the car your car rental company won't cover - such as glass (including the mirrors, lights and windscreen), tyres, wheels and underbody.

If you are renting directly from a US or Canadian car hire firm your car may come with no insurance at all, or just liability insurance. If that's the case you can buy a policy with full Collision (or Loss) Damage Waiver (CDW or LDW) and, if required additional Supplementary Liability Insurance (SLI), which tops up any liability insurance provided locally. It will also cover the glass, tyres etc.

Run a quotation on the MoneyMaxim car hire insurance comparison site and you will be prompted for the right responses as you go. If you have any further queries please call our customer service team, or use our chat facility.

When you get to the car hire counter you turn down any insurance policies they offer you, as the policy bought through MoneyMaxim will provide the required cover. If travelling to an area requiring CDW / SLI you will need to provide a copy of the policy at the desk, so do take a copy with you.

The policy covers the policyholder (and named drivers if they have been included) rather than the car, so if you are charged for damage or theft by the car hire firm you pay this on your credit card, and make a claim for that sum to your car hire insurer (if the claim is sizeable and in particular under a CDW / SLI policy its likely the insurer will deal with the car hire company directly).

This content was last reviewed on 27/10/2014

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