Car Hire Excess Insurance

alowe

Hi,

We're looking to hire a car for 10days in the Algarve, and when looking at various sites for renting, I came across a site for excess insurance. insurance4hire.com. Basically, it seems that you pay them either an annual or daily amount, and they cover the excess - this is rather than paying it to the rental company. It works out a lot cheaper ... but my only worry is that i've never heard of it before (mind you, haven't rented a car in years.) If its legit, then it'll save us a pretty penny. Its underwritten by AIG, so seems ok.

Basically - has anyone ever done this, and if yes what were your experiences with it?

thanks in advance for thoughts on this.

Berty

alowe wrote: »

Hi,

We're looking to hire a car for 10days in the Algarve, and when looking at various sites for renting, I came across a site for excess insurance. insurance4hire.com. Basically, it seems that you pay them either an annual or daily amount, and they cover the excess - this is rather than paying it to the rental company. It works out a lot cheaper ... but my only worry is that i've never heard of it before (mind you, haven't rented a car in years.) If its legit, then it'll save us a pretty penny. Its underwritten by AIG, so seems ok.

Basically - has anyone ever done this, and if yes what were your experiences with it?

thanks in advance for thoughts on this.

Although it might sound like a good idea you are incorrect in your assessment of AIG. American International Group are in terrible financial trouble sustatining losses of €5bn currently and set to rise further at the end of the month when the file their 2007/2008 fiscal tradings.

I hire cars quite a lot and never worry about Insurance excess because my travel insurance will cover my auto excess.

Some US credit cards even cover Excess so its nothing new in the US market.

How much do they want for Excess protection annually?

alowe

If I hire from the rental car company, you get car insurance, which is fine, but to add cdw costs about an additional €260 for the 10 days for the car we're looking at. This company charge £4.50 per day or £49 per annum, as apparently they are insuring the person not the car.

Personally, I'd be wary about not getting excess cover, as if God forbid something did happen, we'd end up having to fork out €1250 for this particular car (and its only a normal family car - nothing special.)

Might ring up our cc company and see if they cover it, as that would be handier.

Berty

alowe wrote: »

Might ring up our cc company and see if they cover it, as that would be handier.

If its an Irish Credit Card then dont bother. They do not cover anything like that, you are just about lucky to get travel insurance cover let alone motor excess/cdw insurance.

£49 Per annum sounds like a good deal actually. I would still have some concerns about the company AIG itself.

I hire my cars through Avis, through their Avis Preffered Membership programme, and get such a good rate that I always have CDW accepted on my booking although my insurance will cover it.

I just did a check on the Algarve for myself. I could hire a VW Golf or similar for 10 days in July for €197 including insurance extras and CDW.

Being a member of Budget, Avis, Hertz etc has its advantages, rather like a hotel card, the more you stay the more you get.

alowe

We could get a car for around that price ourselves, through other companies that aren't world-known brands. Only problem, on this trip we'll have 4 adults and an infant, so need a more spacious car that'll fit 2 adults and a baby seat across the back.

I might do a bit more research and see if any other companies are doing the same ...

Berty

alowe wrote: »

I might do a bit more research and see if any other companies are doing the same ...

I always give http://www.arguscarhire.ie a whirl as well. They have never steered me wrong in the past either.(pun intended)

ROVER

I have used www.carhireexcess.com before underwritten by AXA although did not need to claim. I would read the terms carefully in the event you need to make a claim.
Try www.carjet.com for a rental quote they are an agent for the local rental companies their quote will include all insurances CDW theft waiver etc.