Travel Insurance Australia Rental Car Excess Video
Travel Insurance Australia Rental Car Excess
What is car hire excess insurance in Australia?
Should you get car hire excess insurance or not? This video can help you better understand what your financial liability is when renting a car in Australia.
Not many people know that anyone who rents a car in Australia has a financial liability. Car rental companies usually cover the insurance of the vehicle, however the customer needs to pay the excess if the vehicle is damaged or stolen. In this video, we explained what damage liability fee and damage recovery fee are.
To better understand what car hire excess is, we shared an example of a potential repair cost that showed how much the rental car company will pay and how much the customer needs to pay. Whether the accident was the driver’s fault or not, the cost of the damage will be charged to the customer and any excess amount will be covered by the car rental company. However, the customer may receive reimbursement once the car rental company has retrieved the funds from the party at fault.
To reduce the excess amount, customers protect themselves by purchasing a car hire excess insurance. This can be purchased online or at the car rental counter. This product will lower the excess amount thus reducing the customer’s out-of-the-pocket expenses. Remember, it is not mandatory to get a rental vehicle insurance when hiring a car in Australia, but it will come in handy when a customer gets into an accident.
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