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Shop around for excess cover, says insurance specialist
Thursday, 08 May 2008 15:15
If you crash your rental car like this, most insurance companies will charge you a significant excess
Expensive charges for excess waiver policies may be costing motorists more than they bargained for, claims standalone excess insurance specialist insurance4carhire.com.
The basic cost of hiring a car in Europe can appear reasonable, but the price can rocket when essentials such as excess waiver charges are taken into consideration.
Many drivers fail to look at the policy's small print when signing up to a car rental agreement. The unforeseen extras - especially for "damage" to a vehicle - that can lead to extra charges being debited from credit cards at the end of the hire period.
"It is essential that people hiring a car are aware that, although the vehicle is insured, the excess may not be covered," maintained insurance4carhire.com's Larry Ursich.
"And those charges can range from £300 to a wallet-hammering £1,500.
"Car rental companies do sell their own excess cover, but at as much as £15 a day, it can be very expensive. Even if you pay to reduce the excess to zero you may still be liable for damage to windows, tyres, roof and undercarriage."
According to insurance4carhire.com, Alamo and National Car Rental cost people the most, despite not covering window, tyres and undercarriage in their excess policy.
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