What is Car Hire Excess Insurance?
Renting a car can prove to be a very convenient service when abroad. However, you have to be wary, as there are some hidden fees that you may not know about such as car hire excess (also known as Collision Damage Waiver).
Car hire excess insurance (sometimes referred to as Collision Damage Excess Waiver Insurance or CDEW) is a safety net to these hidden fees. More often than not, when taking out a normal car hire insurance policy, it will also include a Collision Damage Waiver Insurance (CDΕW). Whilst this is perfectly fine and true , you should be aware that if the hire car is stolen or damaged, you will more likely than not be held liable to pay the excess.
This may not sound too bad; however with the excess fees ranging from £200 to £2,000, it could potentially be an eye watering payment. In order to put a stop to these unexpected payments, here at Allianz Assistance, we’re pleased to say that we’ve launched our stand alone Car Hire Excess Insurance to help give you peace of mind when hiring a car abroad. Our policy is available for drivers aged between 21-74 years of age, renting a car outside the UK for up to 91 days.
The way our product works is fairly straightforward. When taking out a standard car hire insurance policy, your rental company will secure the vehicle excess against your credit card, and will then deduct this fee in the case of an accident/damage. This is the excess that will be reimbursed by Allianz Assistance in the event of a claim.
Having to reach into your pocket for a cost that you haven’t planned on for whatever reason can prove to be extremely frustrating. By taking out a car hire excess insurance policy from Allianz Assistance, you’ll be able to drive your rental car without fear of unwanted costs.