The rental car company has its own car insurance. If you cause damage to the rental vehicle while it is under your possession, the car rental company alone will be held financially responsible for the assessed damage cost, up to the excess value specified in the rental agreement.
If the car you rented gets damaged while in your possession, you are obligated to pay for the damage up to the excess value stated in the rental agreement you have with the rental firm.
For example – Let’s assume that the rental vehicle is insured for a total amount of US$ 25,000. The rental vehicle excess component (deductible), for instance, that you are responsible for in the event that you damage the vehicle, may be $2,000. Hence, the first $2,000 of vehicle damage would be your responsibility, and the remainder, up to $23,000, would be covered by the car rental company.
How does CarInsuRent Car Hire Excess Insurance Work?
When you rent a car and opt for CarInsuRent’s car hire excess insurance cover, our policy includes excess waiver coverage.
- If your rental vehicle is written off during your rental period, you should inform your car rental company as soon as possible
- They will advise you on the next steps and may ask you to pay an excess fee toward the replacement
- Once the replacement is complete, you should file a claim and be reimbursed for any excess fees paid
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