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Cancellation Insurance
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This type of cover insures cancellation costs of a car hire booking taken out after the insurance policy has started.
In the past there would have been little call for this type of policy, as car rental agreements taken out directly with car rental companies such as Hertz, Avis and National used to have cancellation rights up to the moment of arriving at the rental station. However this has now changed. Penalty fees of 50% for cancellations within a week of the rental are not unknown.
Also in order to offer keener headline car rental prices the companies, and in particular car hire brokers (who are third party companies who act as middle man between you and your car rental company), now offer agreements without cancellation rights.
Therefore if the hire costs are sizeable enough to make it painful to lose cancellation insurance would be sensible to consider. It might be that your travel insurance policy covers this situation if you have cancellation cover in place, so check that first (and make sure the cancellation cover is sufficient to cover all aspects of your holiday). If not is now a hire are car hire insurance comapny that offer this cover.
Icarhireinsurance offer the option to buy £:500 of cancellation cover - its an additional £9.99 to add it to a standard annual European policy. Get a quotation using the moneymaxim comparison site now to calculate the total price for your break, and click through to Icarhireinsurance if cancellation cover is important to you.
Avoid Car Hire Excess Charges with Moneymaxim - get a Quote now
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moneymaxim always recommend you take independent financial advice before acting on any article. Any views expressed are those of the editorial team at the time of going to press, and should not be considered as either recommendation or specific advice. Readers should be aware that no warranty is given that the details are correct and are recommended to read any policy documents carefully before entering into any contract.