There are a lot of options when it comes to car rental insurance and excess reduction. Even if you have rented a car before, it can still be difficult to work out the inclusions, exclusions, and whether you are purchasing a product that is right for you. To help you make an informed decision, we at VroomVroomVroom would like to share a few features of travel insurance and excess reduction products. You can read more about picking up a rental car here.
Travel Insurance is purchased before a trip. It often provides cover for overseas medical and dental expenses, as well as providing cover for travel delays, luggage and cancellation. Many travel insurance policies also include a specified amount of coverage for rental vehicle excess.
Car rental companies offer excess reduction products, which customers can purchase directly at the counter. These products can reduce the amount of money a customer will be liable to pay in the event of damage (some exclusions do apply).
Ultimately, the decision to purchase reduce your excess in Australia depends on what product best suits your requirements. Note that the purchase of travel insurance or excess reduction products are optional, but if any damage is caused to the vehicle while it is in your possession, you will be liable to pay up to the full excess amount. In Australia, this excess amount can be more than $8,000 for certain kinds of vehicles.
No matter which option you choose, make sure you understand the terms and conditions and know what you are covered for. It is important to check inclusions and exclusions and find a product that covers you for the duration of your rental.
Read more about your options to reduce or cover your excess here.