You are about to travel abroad, the passports are ready, tickets booked, you packed enough clothes, but didn’t you forget something?
If during the trip you also plan to rent a car abroad, probably like many others you made the reservation online and you provided during your order all the necessary information – not only the type of vehicle and the number of drivers, but also the type of insurance. This is the moment when you will be asked to choose whether to purchase the rental company’s Excess Waiver Insurance coverage which could save you a lot of money in case of damage or accident.
Excess is the amount you are obligated to pay in the event of damage or accident and is usually between 1,000 to 2,500 dollars – a considerable sum!
Is buying Car Rental Excess Waiver Insurance offered by the rental company is the most attractive deal on the market? Definitely not!
Insurance products sold by car rental firms are not a good deal. Aside from being overpriced, they have a lot of exclusions hidden in the fine print. Rental companies also exaggerate the cost of repairs and find imaginary damages. What many renters don’t know is that rental firms do not profit off their vehicles but earn money from other things they can bill to the customers, such as insurance.
Photo by: Jonathan Brodsky
Want to be ready the next time you rent a car? If so, please know that you have the option to purchase insurance that will release you from the excess in the event of damage or accident and at low cost.
When you get to the rental company’s counter to get your car, the representative will try again to offer you to purchase this coverage. Should you respond to this offer?
The daily rate charged by the rental companies for excess waiver range from around $15 per day or more. This means that the amount could easily reach 150 dollars. This expense is added to the rental costs.
I purchased Car Rental Excess Waiver coverage at carinsurent.com at a particularly low price of 4.5 dollars/day. So you can easily reduce the cost of renting a car abroad.