Simply put, it's an insurance policy you can purchase which is separate to your car hire agreement. It means that if there is damage to your hire car and you're charged by your hire car or rental car company (because you are responsible for an excess), you send the paperwork off to your excess insurance company and they will reimburse you***
Very little. A single trip policy can cost from just £1.50 a day whilst a European Annual policy costs from £32.50. Almost certainly you will be protecting that huge excess you are responsible for on your hire car for less that the cost of a cup of coffee a day!
See a selection of prices available through our site below, together with details of the discounts available to our users!
|Policy Type and Term||Price from|
|One Week European Excess Policy||£12.39|
|One Week Worldwide Excess Policy||£16.55|
|One Week Worldwide CDW and SLI Policy||£28.28|
|Annual Multi Trip European Excess Policy||£32.50|
|Annual Multi Trip Worldwide Excess Policy||£39.45|
|Annual Multi Trip CDW & SLI Policy||£76.49|
Prices correct as at 23rd April 2019
There are a wide range of policies available which cover you in a wide range countries. These include single countries, Europe, USA & Canada or worldwide. You can buy policies for a single trip or to cover you for the whole year.
Protection from a large excess bill and ensures against:
Save over 95% over the cost car hire firms charge for excess insurance**
Are you concerned about facing a large bill for a scratch on a wing, a punctured tyre or a chip in the windscreen, and tired of being asked for silly money at the car rental desk for cover that has too many exclusions?
Well you don't need to any longer. MoneyMaxim have reimbursement policies starting from under £1.80 a day that will mean you can hire a car without worry.
Policies not only cover the excesses (policy limits can be as high as £50,000) but damage to tyres, wheels, glass and other areas normally excluded by rental companies can also be covered. Many policies can provide against the costs involved with misfuelling, lost keys, personal accident insurance and much more.
Many policies also cover towing and recovery charges following accident or breakdown so you can avoid paying extra for the top up breakdown cover some rental firms are now offering.
So visit our car hire excess insurance comparison service now and get a quotation - you won't believe how little it costs!
You can also Compare Car Hire and Excess Insurance in one easy search with Moneymaxim using our unique money saving service.
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We have been comparing car hire insurance for 10 years now, and during that time have been featured widely in the national press and on television.
When Martin Lewis offered his top tips on saving money on car hire he suggested we should be the first port of call in his essential guide to car hire - you will find his comments on car hire excess insurance 2 minutes and 4 seconds in.
All policies sold through MoneyMaxim cover the main areas of claim:
These are really important to cover and numerically they make up a significant proportion of the claims insurers are presented with.
However, policies will also cover a variety of other risks. Whether you consider them important is a personal choice. If you tend to lose things maybe lost key cover would be regarded as essential, whilst if you are travelling to Iceland being covered for a claim for volcanic ash damage could be sensible.
The list of additional features is significant, and are displayed in the details section of your quote results.
Car Hire Excess Insurance policies can offer everything from cover for locking yourself out your hire car to hotel accommodation if you are stranded. More mainstream options include towing cover, administration fees if you are charged by your car hire company for them having to complete a damage report and loss of use fees which will protect you if the rental vehicle is off the road due to damage you have incurred.
Benefits such as personal accident and baggage cover are provided under some policies, but these may be duplicating cover provided by your travel insurance.
There are very few countries where at least a few of the car hire excess insurers will not cover – and these tend to be destinations where UN sanctions are in place, and paying a claim may breach international law.
On the other-hand, there are popular destinations where thousands of policies are used every day in high season. These include:
When you search for car hire insurance abroad we ask a number of questions designed to help us ascertain the type of policy you might need.
This is important, as car hire firms in different countries tend to operate to different rules.
The standard packaged in car hire insurance in Europe includes the following:
Whilst it is possible to buy car hire without the first two elements it is highly unusual - especially if you use a European based car hire firm or broker. Just check your car rental documentation and refer back to the hiring firm if you are unsure or contact us here at MoneyMaxim.
If you tell us that you are looking for rental car insurance in Europe we will focus your search on car hire excess insurance policies, which cover the excess you are responsible for, rather than the whole replacement cost of the car, as the cover provided by your rental company will cover most of the cost of a claim if your car is involved in a serious accident or is stolen.
If you select a Worldwide car hire insurance policy we then know that we need to ask you further questions, such as whether you need the Collision Damage Waiver Insurance we referred to above. More on this later.
Finally, if you choose to tell us you are renting a car in a specific country we can be more precise. This is worthwhile if one of the following circumstances apply:
You are hiring a vehicle in a country that is outside the European Union, is at the further boundaries of Europe or borders the Mediterranean. This is because different insurers have different definitions of Europe. These vary from at one extreme EU / EEA countries only to at the other countries as far east as Russia, and countries bordering the Mediterranean such as Morocco or Israel.
You are hiring in a country that might have been a deemed a war zone or subject to UN sanctions. Different insurers have different lists of countries where you are unhappy to cover rental vehicles – so by using a specific country search you can even find companies who will cover you for a hire car in Afghanistan!
There are a few ‘exceptions’. We have one insurer who will not cover Iceland, Armenia, Jamaica or the Dominican Republic. If you selected the specific country we would exclude them from the results. If you were going there and tried to buy a Worldwide car hire insurance policy they would shout at you – so you would be protected from buying the wrong policy, but using the single country route would be quicker.
Wherever you want car hire excess insurance do be aware that if the Foreign and Commonwealth Office are advising against visiting to check the terms of any policy you are considering as most insurers will not cover you in these circumstances.
If you are likely to hire for less than 15 days over the next twelve months a daily car hire insurance policy will probably be best - however there are certain circumstances when its worthwhile checking different scenarios.
If, for example, you need car hire insurance in the UK for 14 days and want car hire excess insurance in the USA for 3 days two single trip policies will probably be cheaper than an annual policy.
Our car hire excess insurance comparison service is pretty clever though – if you ask for a daily policy of 45 day we will show you annual car hire insurance policies at the top of the results chart.
This is because we offer annual car hire excess insurance policies covering trips up to 65 days – and these work out much cheaper than a 45 day single trip policy. In fact if your car rental period was 60 days you could save as much as £70 taking an annual policy rather than a 60 day single trip car hire excess insurance policy.
We ask this question because different insurers have differing rules when it comes to accepting customers for car hire insurance.
Some will accept users from anywhere in the world, some just users from the UK. When you let us know which country you reside in we will exclude any policy you are not eligible to buy.
This question is important because some car hire insurance companies have policies that will not cover you if you hire in your own country. The logic here is that they want to exclude those who are really, really regular hirers. Some people hire cars on a Monday to travel to work at the other end of the country, and on a Friday to get home.
They have worked out that this is cheaper than owning their own car, but to a car hire excess insurer they represent a much higher risk than the person who rents a car when they are off on holiday. Hence the reason they don’t allow their policies to be used in this way.
If you going beyond the boundaries of Europe there is far more difference in the cover you will be provided with when you get to the car rental desk.
We have explained the situation with european car hire insurance above, but what are the circumstances elsewhere in the world?
Almost identical to Europe – where excess insurance is what you will need. One or two car hire firms in Australia sometime have an excess on third party accidents – and you might want to cover these with a Supplementary Liability Insurance Policy – but that is fairly rare. Just check your car hire documentation and call us if you are unsure.
But the same as Africa and Australasia, but in some countries including the ‘Stans (Khazikstan, Azerbaijan etc), Vietnam and Cambodia you sometimes find that a third party excess might apply. Refer to your rental paperwork. These can be covered using a Worldwide Excess, CDW and Supplementary Liability Insurance policy.
In America (that’s all parts of North and South America and the Caribbean) car hire can be booked in one of three ways
If you hire your car directly with an American company – either by booking directly on a American website or by walking into a Car Hire Office in the country you are visiting you will probably be offered only very basic third party. This is because people who live in these countries tend to be able to transfer their normal domestic car insurance policy onto their hire car – so don’t need to purchase additional cover. However as a non American you can now make the choice – either to buy this cover through the rental desk (which can be expensive) or by buying a Collision Damage Waiver (CDW) Insurance and Supplementary Liability Insurance (SLI) Policy through Moneymaxim. Some users worry that these policies might not be accepted – but that is not, in our experience, an issue. American car hire firms are quite used to users having made their own insurance arrangements – although they will want a copy of the documentation, so it’s a good idea to take a copy with you.
If you book through a UK or European website – such as moneymaxim.co.uk or hertz.co.uk it will (almost always) be assumed that you will require Collision Damage Waiver, Theft Protection and Full Third Party Car Hire Insurance. So in these cases you would not need the CDW and SLI policy but only a excess insurance policy, which would cover any excess you are responsible for and would also cover the tyres, wheels, underbody and roof of the car, which trend to be excluded from the CDW included with the car.
Such as those sold by Virgin, TUI, Thomas Cook are sold on the same basis as if you were booking directly with an American website – so the same choices are open to you.
We aim to help you find the best car hire excess insurance company to meet the needs of your party when you hire a car. However, it is true to say that sometimes circumstances differ to a degree that more guidance is required. That’s where our industry leading customer service team come into their own.
If you are still confused or just want to ruin your personal situation past an expert please don’t hesitate to contact us through our live chat facility or give us a call – you will be well on your way to finding your holiday car hire insurance in minutes!
We offer discounts from a number of partners on our site. We do not promote individual percentage savings, as this might lead a user to choose their policy on the discount rather than the features, benefits and ultimate cost of the policy, which is the best way to choose cover.
*The 40% discount relates to daily worldwide excess insurance policies from carhireexcess.com. An 11 day policy is currently offered through MoneyMaxim at £25.74 compared to £43.89 directly from the insurer. Other policies from the company and other insurers are also discounted.
**Hertz charge €42.70 (£36.87) per day for Super Cover (Excess Waiver) to cover a Compact sized car in Milan Malpensa Italy. Policies through MoneyMaxim are available from £1.77 per day.
***Subject to you operating the car within the rental firms agreement and meeting the terms and conditions of your car hire excess insurance policy.
All prices correct as at 12th March 2019.
This content was last reviewed on 12/03/2019