When you run a quote for car hire excess insurance for a European rental, you will be asked to choose between two different cover options:
- Vehicle Hire Excess InsuranceOR
- Excess and Collision Damage Waiver (CDW) InsuranceLet us start by explaining what CDW is…
You need to have Collision Damage Waiver (CDW) included with any vehicle hire. When CDW is in place (and provided you have stayed within the terms and conditions of your rental), you do not have to pay for the whole cost of the vehicle in the event of an accident – usually you will just be responsible for the first part of any damage which is your excess.
With most European hires you will find CDW is included within your rental rate and you only have an excess. On rare occasions, however, you may find your rental comes with third party insurance only. When this is the case, you will need to purchase separate cover for damage to your vehicle and also cover for theft – in case your rental car is stolen.
The CDW policies available through MoneyMaxim will not only cover the vehicle you are driving for damage but also cover damage as a result of theft.
If you have CDW and Theft cover included within your rental, you will be responsible for any excess PLUS additional areas which are excluded from your CDW or your rental in general.
Areas often not covered by CDW include:
The Vehicle Hire Excess Insurance option covers not only the CDW and Theft excess on your hire car but also the above excluded items up to the policy limits. There are other areas they can cover too such as misfuelling and admin charges.
If you do not have CDW or Theft Protection included in your hire, then the policies available through this option can fill that gap in your cover. They also cover other areas which are included with standard car hire excess insurance such as towing.
The key here is knowing what is included with your hire:
– If you already have CDW and theft protection then you can opt for Vehicle Hire Excess Insurance
– If your hire comes with third party only then you should consider Excess and CDW Insurance
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