Rental car insurance is a type of travel insurance that provides coverage for both the owner of the policy and the rental car company. Because renting a car is much more reliable and flexible than public transportation, having rental car coverage while on a trip is very important.
Good insurance companies such as Youi offer two types of auto insurance: collision insurance and liability insurance. The fist type of car rental insurance provides coverage for the repair costs in case you have been in an accident with the rental car. Repair and replacement are covered by this type of insurance. The second type of rental car insurance, liability insurance provides coverage if you as the owner of the insurance suffer injury or even death. Liability rental car assurance will provide coverage for the expenses after the accident in the first case or will compensate the beneficiaries in the later case.
Does my car insurance provide coverage for rental cars?
Before departing on a trip you should always check if your car insurance is applied as a travel insurance. There are some cases when your travel insurance will be applied to any rental car in the world. But not all car insurance companies provide such extensive coverage, or some companies will only provide liability coverage and not collision.
Should I buy rental car insurance ?
If you plan on traveling abroad and wish to rent a car you can either get rental car coverage or you can check before you leave to see if your car insurance already provides protection for rented cars. Another important thing to know is that rental car companies offer rental car policies themselves, but it is not called insurance, but waivers. The same as with rental car assurance, there are two types of waivers, Loss damage waivers and collision damage waivers. And just like collision and liability rental car insurance, collision and loss waivers require you to pay £6-12 for each day you have the rental car. To these type of waivers you can also add death or personal property insurance, which will provide coverage for medical expenses should you get in an accident or worse.
Buying rental car insurance from your rental car company will be more expensive than getting it from a regular insurance provider. Before departing on a trip you should always check with your insurance provider, because if you have life, medical and property insurance you might not even need to apply for a rental car waiver.
How much is rental car insurance ?
The price of your rental car policy can vary according to the destination you want to use your insurance. In this case, a worldwide rental car assurance will be more expensive than an European rental car policy. For example, a 31 day rental car insurance that covers up to 7 drivers in Europe can cost somewhere around £49, while the same type of policy but with worldwide coverage will cost £65 for drivers between the ages 21 and 74. This sort of rental car protection policy will provide coverage in case you damage it during an accident or in case of theft. Also this insurance will provide up to £2000 car rental excess coverage.
The rental car excess insurance policy will provide the rental car holder, and not the vehicle. You can also decline the rental car company’s excess coverage when you collect the car. In this case if your car is stolen or damaged the rental car company will charge your credit card for the excess and then claim reimbursement from your rental car insurance policy.
When thinking of travel insurance you should never ask yourself which travel insurance is the best but rather you should ask yourself “Which is the best travel insurance for me?.” The reason behind this is that all travelers are different and all their needs differ from one another. Knowing which policy is best for you can save you a lot of money and offer the best coverage.
Which travel insurance should you get
There are many factors that you have to take into consideration before purchasing your insurance policy. For once you should know how long you wish to travel. Different policies can offer greater coverage depending on the number of trips you wish to take.
Destination is another important factor. Some insurers provide extended coverage if you travel in Europe while others have special policies for worldwide travels. Also depending on where you travel to you will be able to choose most of the times the activities that the policy will cover. Medical insurance can cover different types of activities such as skiing, snowboarding or other winter sports and wind surfing and different summer sports.
Insurance policies for different occasions:
The many insurance providers in the United Kingdom provide a wide array of policies to help different types of travelers to protect themselves while travelling. From young to old, every traveler can find a good policy that will guarantee they are covered if anything should happen.
• Backpackers travel insurance is a good example of special policies designed for a special type of traveler. These policies generally provide the basic types of coverage such as medical care, trip cancellation, delays and evacuation.
• Business policies are another special type of insurance that covers the needs of all business travelers. Depending on where you go you can find business travel insurance for Europe or Worldwide and if you have to travel many times per year you can choose annual business travel insurance instead of a single trip.
• Senior travel insurance is another type of insurance that aims to provide the best coverage for a certain type of traveler. The elderly choose to travel more and more nowadays because of better healthcare and higher pension benefits. With better pay and healthier lives, senior citizens choose to spend their golden years travelling rather than sitting at home. You can find policies for travelers over the ages of 65 and even 70.
• Student travel insurance and gap year travel assurance are policies designed for travelers. It’s common to see students travel during gap years to escape from the pressures of being a student. Types of policies go even lower than student policies. Travel insurance for kids can also be found.You can now find trip insurance for any age group, for any destination, everywhere on the planet. Most policies have some types of coverage in common with the rest but what makes each policy special is the additional coverage specifically for your trip. Trip cancellation, delays and interruptions, baggage loss, medical care, medical evacuation and legal expenses are some of the types of coverage found in most policies.
The different types of policies will cover other situations. If for example you wish to travel during the winter or to the mountains for some winter sports you can find a policy that will cover winter sports. It is really important to remember that which travel insurance is best for others may not be best for you.
• Travel insurance with pre-existing conditions is a good example of special policies. Generally insurance does not cover situations that already existed. Insurance covers in general only unexpected situations but this would not be fair for people with pre-existing medical conditions. Although the risk is higher for these travelers, some insurers still provide coverage, for a higher price of course.Which travel insurance is best for you? Just figure out where you want to go, for what period, what you plan to do there that may be dangerous and how much money you want to spend on assurance.[Top]