1 July 2024

Car Hire Excess Insurance - Reviewing Not Renewing is the Clear Winner

You may be losing out if you do not review your car hire excess insurance

Did you buy an annual car hire excess insurance last year?

If so, you will probably have received an email from your insurer inviting you to renew your policy with them. But before you rush to take up their offer, use the MoneyMaxim car hire excess comparison service to see if you can get a better deal.

If you are not planning to travel immediately, wait to buy your new policy just before go so that you can get the most out of your annual car hire excess insurance.

It is important to compare excess insurance policies to ensure you are getting the right car hire insurance at the lowest price we offer.

Did you know that through MoneyMaxim your quote could be even cheaper?

Many insurers will offer you a renewal at the same price you paid the previous year. By checking through MoneyMaxim you can find out if your current policy is available at a lower price or if any other company can offer a better deal!

Price is only one of a number of reasons to review your car hire excess insurance policy.

• Your travel plans for this year may be different - If you are heading to the US or New Zealand you may need to opt for a worldwide rather than a European policy.

• Or it could be the other way around - Why buy a policy that covers more of the world than you need it to?

• Changes to the policy cover - Insurers often revise the cover they offer. A different provider may now provide broader cover than your current insurer.

• Do you still need an annual policy?

Yes - Bear in mind that if you automatically renew your policy, your start date could be weeks before your first trip. By taking out a new policy just before your next holiday rental, it means you will get a full years cover from that date.

No - A single trip can work out cheaper. If you only have a rental planned (or more than one) and your total hires add up to less than 16 or 17days in a year, then single trip policies for each of your hires may cost you less.

The following companies who offer policies through our site will automatically renew your policy unless you notify them otherwise:

• Leisureguard

• Insurefor

• Carhireexcess.com

• Coverforyou

• Eversure

• Reducemyexcess

• Icarhireinsurance

These companies may well contact you before your renewal date which will be a timely reminder to review your car hire excess insurance needs.

Some of these companies will also give you the option to opt out of automatic renewals at time of purchase.

Hot off the Press We have two more companies joining our panel very soon, giving you even wider choice and a greater reason to run a new quote for your car hire excess insurance.

If you buy a policy with a company that has auto renew set up then a quick call before your current policy expires will prevent the next payment going out.

If you would like to discuss your requirements do not hesitate to call us at MoneyMaxim - we are here to help!