The policies, in broad terms, covers the following:
CDW (Collision Damage Waiver)/LDW (Loss Damage Waiver) offering cover of US$50,000 or more in those countries where CDW/LDW is not already included in the rental price (predominently the USA, Canada, the Caribbean and South America).
Supplementary Liability Insurance (SLI) tops up your liability insurance to US$1 million in those countries where SLI is either not already included in the rental price, or is lower than the rentor is comfortable with (liability Insurance in some locations is as low as $25,000). It is predominently used in the USA, Canada, the Caribbean and South America.
Covers Excess in countries where CDW is included in the rental price and Excess is charged (mainly, but not exclusively) Europe, including the UK, Africa, Australia, New Zealand and most parts of the Middle and Far East.
Covers the Policy Holder and additional drivers named on the car rental agreement. (Some policies require additional drivers to be named, and limit them to between seven and nine in total, some are more flexible).
This is a reimbursement insurance which means that under the excess insurance and for small claims for CDW/SLI cover it is likely that your credit card will be debited with either the costs involved or the total excess (whichever is smaller) and you them claim these costs back from the insurance company.
These policies cover the Policy Holder, not the rental vehicle. If there is damage to the rental vehicle the car rental company will not become involved unless it is a reasonably large claim under a CDW/SLI policy. The policies detail the normal claims procedures which are pretty straightforward. In some cases the insurance companies underwriters will liase directly with the car hire company or their loss adjusters.
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