Car hire insurance excess insurance

MarkBargain

I was looking into the possibility of hiring a car from time to time after passing a driving test as a cheaper option to buying a vehicle. To my surprise, Budget hire cars from just £66 a week. I haven't hired a car before but it seems that includes insurance, which I presume would cover someone (age 30+) regardless of whether or not they just passed their test. I noted the excess is £1,000 but I read that some companies offer 'car hire excess waiver insurance', has anyone here got any experience of such a policy? I got a quick quote and it's only £40 a year so that seems a very sensible purchase to cover a few car hires spread over the year. For the occasional driver, hiring seems to make sense. Any comments or advice?

Casey_Ryback

If you hire any vehicle avoid "I can hire"
Also when you take the cover out buy a claim protection or waiver to cover you against anything.
I did this way and the hire company didn't even take any deposit etc...a bit more expensive but at the end you are covered if third party causes damages and they won't hold the deposit or you will not need to pay any excess.
If you buy a rental agreement in the UK for a use when you travel DO NOT change the original plan at all as the original price can go o thousands as shown on BBC.

One more advice;when you take over of the vehicle check it against all faults and damages using a microscope! Hire company does when you return the vehicle.

MarkBargain

Casey_Ryback wrote: »

Also when you take the cover out buy a claim protection or waiver to cover you against anything.

The Budget website states it includes

• Collision Damage Waiver
• Theft Protection

Damage Excess: £1,000.00
Theft Protection Excess: £1,000.00


There don't seem to be any other options. The £1K excess is a lot, which is why I was thinking about an annual policy with another firm to cover this.

MarkBargain

I've just read on the Budget Q&As that 'You must have held a full clean licence for at least one year. ' Do all car hire firms require that even of someone in their 30s?

straighttalker

Must depend on the hire company.

Regards your idea to buy a separate insurance policy to protect against excess, you'll have to initially pay the excess if you do cause any damage and then reclaim from the insurance company. Who knows how long this will take. It would be easier just to pay the extras for their CDW.

zagfles

MarkBargain wrote: »

I was looking into the possibility of hiring a car from time to time after passing a driving test as a cheaper option to buying a vehicle. To my surprise, Budget hire cars from just £66 a week. I haven't hired a car before but it seems that includes insurance, which I presume would cover someone (age 30+) regardless of whether or not they just passed their test. I noted the excess is £1,000 but I read that some companies offer 'car hire excess waiver insurance', has anyone here got any experience of such a policy? I got a quick quote and it's only £40 a year so that seems a very sensible purchase to cover a few car hires spread over the year. For the occasional driver, hiring seems to make sense. Any comments or advice?

Yes it could be a good idea. Watch out for restrictions - some have restrictions on number of hires or it has to be a certain distance from your home - I think they're mostly aimed at holiday car rental.

zagfles

straighttalker wrote: »

Must depend on the hire company.

Regards your idea to buy a separate insurance policy to protect against excess, you'll have to initially pay the excess if you do cause any damage and then reclaim from the insurance company. Who knows how long this will take. It would be easier just to pay the extras for their CDW.

Of course it would be easier, but it'll cost a fortune. Car hire companies excess waivers are invariably a rip-off.

Most excess insurers do seem to have a good reputation and usually pay in time for you to pay off the credit card. Search for reviews.

MarkBargain

straighttalker wrote: »

Must depend on the hire company.

Regards your idea to buy a separate insurance policy to protect against excess, you'll have to initially pay the excess if you do cause any damage and then reclaim from the insurance company. Who knows how long this will take. It would be easier just to pay the extras for their CDW.

Does anyone know of any hire companies that rent cars to someone (30+) who hasn't held a licence for a year? All that national ones seem to stipulate one year, which is fair enough.

Yes, I understand a separate policy would mean paying the £1,000 then claiming it back, but I just thought the policy is likely to work out much cheaper. Besides, Budget do not seem to offer an excess waiver on the screens I looked at.

pompeyrich

MarkBargain wrote: »

Does anyone know of any hire companies that rent cars to someone (30+) who hasn't held a licence for a year? All that national ones seem to stipulate one year, which is fair enough.

Yes, I understand a separate policy would mean paying the £1,000 then claiming it back, but I just thought the policy is likely to work out much cheaper. Besides, Budget do not seem to offer an excess waiver on the screens I looked at.

Here you go, Budget excess reduction so, yes the annual policies are a lot cheaper and as you understand the claim back process and that they will put a holding amount on your credit card to cover the excess, probably a good money saving option.

Think you will struggle to find a company that accepts licences held for less than a year, for any aged driver.

MarkBargain

pompeyrich wrote: »

Think you will struggle to find a company that accepts licences held for less than a year, for any aged driver.

Thanks.

Do hire companies require you to have been driving during that year, or just holding a licence? I presume you can pass your test, wait a year, then hire a car?

agrinnall

zagfles wrote: »

Yes it could be a good idea. Watch out for restrictions - some have restrictions on number of hires or it has to be a certain distance from your home - I think they're mostly aimed at holiday car rental.

Be very careful about this, the two companies that I use both have distance provisions, from memory one is 150 miles minimum. You may find others that don't have it, I used one for a van hire that didn't, but that's probably regarded as a different type of market (and it was more expensive than the equivalent car hire version would have been).