Budget Car Rental Insurance: Know Your Options

PUBLISHED ON Mar, 05 2023


Introduction to Budget Car Rental Insurance

Budget Car Rental offers a range of rental car protection plans to ensure that you have peace of mind during your travels. Whether you are on a business trip or a vacation with your family, Budget has you covered with diverse options for car insurance. These protection plans are designed to limit your financial liability in case of an accident, theft, or damage to the vehicle. Additionally, Budget car rental insurance also includes coverage for personal accident and effects, giving you added protection in case of any unfortunate events. In this article, we will provide an overview of Budget car rental insurance, including the available coverage options, costs, and benefits. By the end of this article, you will have a better understanding of Budget’s rental car protection plans and how they can benefit you during your travels.


Budget Car Rental Insurance Explained – Types of Budget Car Rental Insurance

Budget Car Rental offers a variety of rental car protection plans to suit your needs and budget. The following are the different coverage options offered by Budget Car Rental Insurance:

  • Collision Damage Waiver (CDW) is a protection product that can waive your responsibility for the cost of damage to the rental vehicle in the event of an accident or theft. Although it is a part of your rental fee, there is an excess. Should something happen to your rental car, you are financially responsible for this excess. The excess amount at Budget for small – large vehicles is £ 1000. For Premium vehicles the excess is £ 1500. 
Budget car rental excess cost

Budget car rental excess cost

Budget’s collision damage waiver covers the following:

  • All damage to the Budget rental car
  • Coverage for vehicle theft up to the car’s full value.

Your Budget collision damage waiver essentially covers all damage to the car and theft of the vehicle with no costs to you or your insurance company, provided you weren’t driving in a banned manner. 

Excess Reduction, a package offered by Budget, lowers the excess for the majority of cars to  £ 0. The daily fee for this service is £ 22 -£ 37 per day. It is significant to keep in mind that excess reduction fees can change according to the location and type of rental car being used. For the most precise and recent information regarding excess reduction fees, it is advised to contact Budget directly.

How much does Budget Excess reduction cost

How much does Budget Excess reduction cost

  • Windscreen Damage Waiver (WDW) – Windscreen Cover protects you from charges if your rental vehicle’s windscreen is broken or cracked.
  • Personal Accident Insurance (PAI): PAI coverage provides protection against accidents, injuries, and loss to personal property. This option covers medical expenses, ambulance fees, and accidental death or dismemberment expenses for you and your passengers. PAE protection also covers the loss or damage to personal property inside the rental car.
  • Supplemental Liability Insurance (SLI): SLI is an optional coverage that provides protection against third-party liability claims. This coverage offers up to $1 million in liability protection and helps to pay for damages or injuries caused to others while driving the rental car.
  • Emergency Sickness Plan (ESP): The ESP option provides medical and emergency assistance to you and your passengers in case of an illness or injury while traveling. This coverage includes emergency medical transportation, medical referral assistance, and other emergency assistance services.

Budget Car Rental Insurance coverage options can vary by location, so it’s essential to check with your local Budget office to understand which plans are available to you. It’s also important to note that rental car insurance coverage options are not mandatory, but they offer added protection and peace of mind while driving a rental car.


What are the Budget car rental insurance requirements?

Budget does not appear to have specific insurance requirements for renting a car from them. 

It’s important to note that while Budget does not have specific insurance requirements, they may require you to have certain qualifications such as a valid driver’s license, a minimum age requirement, and a credit card in the renter’s name with available credit to cover the rental cost and any potential damages or fees.


Budget Car Rental Insurance Cost

The answer to the question “how much is Budget car rental insurance?” can vary depending on the coverage options selected. Budget offers four main types of car insurance coverage options, including a collision damage waiver (CDW), personal accident and effects (PAE), supplemental liability insurance (SLI), and an emergency sickness plan (ESP).

While the Budget collision damage waiver is part of your rental fee, it is subjected to an excess. Should something happen to your rental car, you are financially responsible for this excess which ranges between £ 1000 – £ 1500.

Excess Reduction is offered for £ 22 -£ 37 per day. If you purchase CarInsuRent car rental insurance, the excess amount can be eliminated and reduced to zero for as low as $6.49 per day* to $94.90 for an annual policy

*Prices based on 10 days coverage

Windscreen Damage Waiver protects you from charges if your rental vehicle’s windscreen is broken or cracked and costs €3.36/Day.

The Personal Accident and Effects (PAE) coverage option protects you and your passengers against accident, injury, and loss to personal property and costs €5.00/Day

The Supplemental Liability Insurance (SLI) coverage option provides coverage for damage or injury to others, and starts at $14 per day.

The Emergency Sickness Plan (ESP) coverage option provides medical and emergency assistance in the event of sickness or injury during your rental period. The cost of ESP protection from Budget is $5 per day.

It’s important to note that these prices may vary depending on location and other factors, and additional fees or taxes may apply. When renting a car from Budget, customers are encouraged to review the different protection plans and their costs before making a selection to ensure that they have the appropriate coverage for their needs and budget.


Budget car rental protection cost

Budget car rental protection cost

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How does CarInsuRent differ from Budget Car Rental Insurance?

  • CarInsuRent car hire excess insurance starts from as low as $6.49 per day* to $94.90 for an annual policy. Budget Excess Reduction for Damage & Theft waiver Can be purchased separately for £ 22 – £ 37 per day. 
  • Budget Windscreen Damage Waiver protects you from charges if your rental vehicle’s windscreen is broken or cracked and costs €3.36/Day. CarInsuRent car hire excess waiver insurance covers damage to the rental car’s windscreen, auto glass, tyres, undercarriage or roof and is included at the price of the policy.
  • CarInsuRent covers baggage and personal belongings – up to US$ 1,500 included at the price.
  • CarInsuRent covers the replacement of a lost or stolen Rental Car key.
  • CarInsuRent covers exorbitant rental company fees added to your repair bill – including fees for loss of use, processing, relocation and towing.
  • CarInsuRent covers single-vehicle accidents – claim even if the damage or theft to your car was not your fault.
  • CarInsuRent offers annual worldwide car hire excess Insurance for hiring cars around the world for up to 45 days.

*Prices based on 10 days coverage


How much could you save on Car Hire Excess Insurance for your Budget car hire?

Car hire excess insurance for 10 days rental in Europe with CarInsuRent will cost US$64.90 compared to US$ 305 when purchasing the equivalent coverage from Budget. Total potential saving: US$ 240.10.


How to File a Claim

    • What to Do in Case of an Accident or Damage – If you are involved in an accident while driving a rental car, there are certain steps you should follow to file a claim with the rental car insurance company. First, exchange personal information with the other driver, including name, address, license plate number, rental vehicle information, insurance company, and policy number, and document the accident with pictures and notes. If the other driver is at fault, you should get their contact and insurance information and call their insurance company directly to file a claim. If you are at fault or have non-collision damage, you can file a claim with the rental car insurance company. The process for filing a claim with the rental car insurance company may vary depending on the provider, but typically, you would need to provide details of the incident, including the date, time, and location of the accident, as well as any police report numbers, if applicable. Additionally, you may need to provide documentation of the damage, such as photographs or repair estimates.
    • Required Documentation for Filing a Claim
      • A copy of the Certificate of Insurance
      • A copy of the rental agreement
      • A copy of the police report if:
        • you got in an accident with a third party
        • It is legally mandated in the country of incident
        • your claim is about stolen personal belongings
      • A copy of the damage report given by the rental company, detailing each cost incurred. Photographs of the damage are optional but may help ensure that the charges are reasonable.
      • Detailed repair receipts, invoices or other documents showing the breakdown of the amount the rental company charged you for the accidental damage or loss
      • A copy of your credit card statement that reflects your payment for the claimed damages
      • A copy of the driver’s license of the person driving the car during the accident


    • Tips for a Smooth Claims ProcessFiling an insurance claim can be a complicated and stressful process. The following tips can help ensure a smoother claims process:
      • Document everything: Documenting all the details of the accident or loss, including taking photos and notes, can help speed up the claims process and reduce the possibility of disputes.
      • Communication: Communication is key in any insurance claim process. Keep thorough records of all communication with the insurer, and discuss your expectations for the claims process with the adjuster. You can also ask about the frequency of updates and the preferred type of communication.
      • Avoid duplicate claims: Avoid submitting duplicate claims, as it slows down the claims payment process and creates confusion.
      • Understand your coverage: It’s important to understand your insurance coverage, including the limits and deductibles, before filing a claim. Understanding your policy can help ensure that you receive the maximum benefit to which you are entitled.
      • Be patient: Claims processing can take time, so it’s important to be patient. 

    By following these tips, you can help ensure a smoother claims process, and increase the chances of receiving the maximum benefit that you are entitled to under your insurance policy.


Final Thoughts and Recommendations

In conclusion, Budget Car Rental Insurance offers a variety of coverage options that can provide financial protection and peace of mind while traveling. You should carefully review each coverage option and compare it with third-party car rental insurance providers to choose the best option for their specific needs and budget.

It is important to note that Budget car rental insurance is optional, and you can decline to purchase it if you have your own insurance or prefer to assume the risk yourself. However, it is recommended that you carefully consider their options and make an informed decision about whether or not to purchase rental car insurance before renting a vehicle.

Budget’s excess reduction can be the best option if you want the greatest level of comfort and are willing to pay for it. You can save money by shopping around and buy car rental insurance online for as low as $6.49 per day* to $94.90 for an annual policy. 

Before choosing a Budget rental car insurance policy, you should confirm what level of coverage is included with your personal auto insurance policy or the credit card you used to reserve the vehicle. By doing this, you can avoid paying for the same coverage more than once.

Ultimately, understanding the different types of insurance available to you and making an informed decision can help you have a stress-free and affordable car rental experience with Budget.

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How much is Budget car rental insurance

The cost of LDW protection can be as low as $9 per day, according to Budget’s website. However, the cost may vary depending on the renter’s location and the value of the rental car. The cost of PAE protection is not explicitly mentioned in the provided search results

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Frequently Asked Questions (FAQ)

Can I cancel my policy before my trip?

You can cancel your policy within 14 days of receiving your PDS and Certificate of Insurance. The premium you have paid will be refunded to you in full, as long as you have not started your trip and do not want to file a claim of any sort related to the policy. Once this 14-day period has passed, you can still cancel your policy but you will not receive any refund.

Does CarInsuRent cover Sand and Ash Protection and Gravel Protection?

Our Iceland policy include Sand and Ash Protection (SAAP) and Gravel Protection (GP).

What is Sand and Ash Protection (SAAP)?

Sand and Ash Protection (SAAP) is a type of insurance coverage that is designed to protect rental cars from the potential damage caused by volcanic ash and sand in Iceland. Certain areas of Iceland still have loose ash and fine sand from the Eyjafjallajökull eruption, which can blow around and damage vehicles. SAAP is a specific waiver that was created to cover this type of damage, as Icelandic insurance companies do not include it in their Collision Damage Waiver. This coverage is optional, but highly recommended if you plan to drive in Iceland. Camping Iceland, a local car rental company, claims that SAAP will serve you well and recommends it for all rentals.

When is it Common for the Wind to Toss Sand Onto the Roads?

Sand can be hurled onto roads in Iceland during the Sand & Ash period, which typically occurs in February, March, and April. During this time, the snow has only just thawed out and the grass hasn't grown sufficiently to keep the sand in its place. This can lead to damage to vehicles driving on the roads. It's important to note that sand and dust storms, which can also cause visibility issues for drivers, typically occur when strong winds lift large amounts of sand and dust from bare, dry soils into the atmosphere.

What does CarInsurent Sand and Ash Protection in Iceland cover?

Due to the recent volcanic eruptions in Iceland the risk of damage to the paint and windows of the cars has increased. Our Sand and Ash Protection (SAAP) insurance can cover damage to the paint, windows, lights, plastics, chromes, and wheels of the rental car caused by sand, gravel, ash, pumice, or other earth materials being blown onto the vehicle. The deductible for SAAP insurance is typically 50,000 IKR for all rental cars in the fleet. No other insurance covers these damages and insurance companies refuse to cover them. Even though all safety rules are followed damage can happen when, for example, wind starts blowing more than was forecasted thus moving the sand/ash and damaging the car.   [carInsurent_sc_get_quote_cta cta_text="See How Much You Can Save on Your Car Rental Insurence" cta_btn_text="Get Started"]  

Does the Insurance Cover Lost Keys and Remote Locking Devices?

Yes. CarInsuRent insurance covers lost keys and remote locking devices. Losing the keys to a rental car can be a stressful and frustrating experience. Many people wonder if their rental car insurance will provide coverage for lost keys. Rental car insurance policies may vary in their coverage for lost keys. Lost keys are not typically covered by car insurance for loss or theft, as keys are considered personal property.

Steps to Take If You Lose Rental Car Keys

Losing rental car keys can be a frustrating and stressful experience, but there are steps you can take to get back on the road quickly. Here are some tips based on the provided web search results:
  1. Contact roadside assistance: Most rental cars come with a roadside assistance phone number that you can call in the event of a lockout or lost keys. You should be able to call and have someone sent out to help with your situation. Note that our car hire excess waiver insurance may reimburse you for roadside assistance.
  2. Check for a spare key: Some rental cars come with a spare key that is located in a magnetic box under the car or in the trunk. If you have rented a car that has a spare key, this could be an option to get back on the road quickly.
  3. Contact the rental car company: Contact the rental car company as soon as possible to let them know what has happened. They may be able to provide you with a replacement key or arrange for a locksmith to come and assist you.
  4. Check your insurance policy: If you take out our car hire excess insurance you may have coverage for lost or stolen rental car keys.
  5. Take preventative measures: One of the best ways to avoid losing rental car keys is to make them harder to lose. Attach a big, noticeable lanyard or keychain to the keys, something that will make a noise when moved, to help you locate them quickly. Additionally, always double-check that you have the keys with you before leaving the car.
  We encourage you to read our full guide to learn everything you need to know about travel car hire excess insurance.   [carInsurent_sc_get_quote_cta cta_text="See How Much You Can Save on Your Car Rental Insurence" cta_btn_text="Get Started"]   Please see the Policy Wording for the complete terms and conditions.

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