"understanding Rental Car Coverage In Australian Travel Insurance"

 "understanding Rental Car Coverage In Australian Travel Insurance" - Do you need to buy excess car insurance at the counter or are there better alternatives to reduce your excess?

There's nothing worse than booking a rental car thinking you're getting a pretty good deal, only to find that the price has almost doubled when you pick it up.

"understanding Rental Car Coverage In Australian Travel Insurance"

If this has happened to you, it's probably because the rental company hasn't informed you of the additional costs you'll have to pay if you want to lower your excess (the amount you'll have to pay if the car is damaged).

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If you do not pay the extra cash, you will be charged the full excess in the event of an accident. In our examples, this could be as high as $5,500. And when the repairs cost less than the excess, you simply have to trust that the difference will be refunded to your credit card.

To rent a basic economy car from Avis at Sydney Airport for a week, you pay a minimum of $120 per day, but to reduce your excess from $5,445 to $838 for the same rental, you have to pay an additional $71 per day.

The good news is that there are alternative car rental excess insurance products that can save you up to $61 a day on your car rental.

If you are renting a car for a week, these are cheaper alternatives to the car rental excess waiver. Standalone policies often have fewer exclusions as well.

Collision Damage Waiver (cdw)

So what's the catch? The alternatives may not be as convenient. If you are involved in an accident with your rental car, you may have to pay the damage to the rental company and then claim it back from the insurance company of your choice.

Below we compare the daily excess waiver cost for rental cars offered by seven car rental companies (SIXT, Thrifty, Hertz, Avis, Budget and Europcar) with standalone insurance products from:

This is often the cheapest way to cover the car rental excess, especially for rentals longer than one day. It also has the benefit of giving you additional coverage for items over and above what is covered by your rental agreement.

Many of these items are typically not covered by your rental car's standard excess waiver. Additional items covered include:

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Both domestic and international travel insurance policies often include excess car rental coverage. When traveling abroad, travel insurance is essential. So if your travel insurance already has a good deductible on the rental car, you don't have to pay for additional coverage.

When traveling in Australia, domestic travel insurance can be useful to cover cancellation of high-value trips, protect valuables such as laptops and ski equipment, and cover a car rental excess.

There are some pitfalls to be aware of when relying on the rental car excess included in your travel insurance.

Travel insurance with a credit card does not usually cover domestic car rentals. However, if you are traveling abroad, many insurance companies offer coverage for the rental car excess. Depending on the policy, it may only cover the cardholder and there may be conditions to access coverage such as: B. paying for the rental car with the card.

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The main benefit of passing the extra cash to the car rental company to lower or waive the excess is that you only have to deal with one company. All the paperwork is taken care of with the car hire company and if you have paid to waive the excess you will not have to dig into your own pocket at all in the event of an accident.

The car rental company might be friendlier after you've shelled out the extra money, but if you look at the standard excess coverage, you might think their business model is based in part on charging you those worrisome excess amounts down.

For more details on car rental excess coverage, see our car rental comparison.

Check with your rental company what the deductible is for the vehicle you rent. This will help you determine how much deductible you need. Keep in mind that deductibles for luxury vehicles and 4x4s are often higher than for standard vehicles.

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Also, find out if there are situations in which the deductible may be higher, for example with younger drivers or in the case of single-vehicle accidents.

If you are considering purchasing a standalone car rental excess insurance product, ask if it will cover items not covered by your car rental agency.

Even if you pay to have your excess reduced to zero, whether through the car hire company or an alternative provider, it's unlikely you've waived all potential costs. There are usually exclusions to coverage, which means there are situations where you may not have coverage at all (and it is not always possible to purchase coverage for such scenarios).

It is quite common for rental agencies and alternative third party providers to hold you fully liable (i.e. in excess of the usual deductible) for damages resulting from a breach of contract or from an Excluded Activity.

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In this case, your costs may not only be limited to damage to the vehicle. You could also be held liable for costs such as administration and towing fees. If the car is off the road as a result of damage, you can also be held liable for the rental company's loss of income during the repair.

If you are unfortunate enough to have an accident with your rental vehicle, here are a few tips to keep in mind.

We value accuracy. Do you see something not quite right in this article? Let us know or read more about fact checking at . Check your eligibility, find out what's covered or claim your free car rental excess in Australia with Allianz Global Assistance (AGA).

If your card offers a free car rental excess in Australia, here are some reasons to take advantage of this feature.

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Allianz Global Assistance's eligibility portal (opens in new window) makes it easy to check if your card is eligible for up to six free insurance plans, including a rental car excess.

You'll have access to free insurance coverage with eligible cards, so there's no need to get quotes or apply.

Coverage is provided when the full amount for the vehicle rental has been debited from the account holder's card account.

Cardholders are entitled to a rental vehicle excess when full payment for the rental vehicle has been debited from the accountholder's card account.

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Covers the rental vehicle excess if your rental vehicle was rented in Australia and is damaged or stolen.

For the full list of benefits, as well as the applicable terms and conditions, exclusions, limitations, applicable floors and deductibles, please see the Card Insurance Information Brochure, effective 30 June 2022 (PDF, 604 KB), opens in new window.

Below is just a limited summary. For the full list of benefits, as well as the applicable terms and conditions, exclusions, limitations, applicable floors and deductibles, please see the Card Insurance Information Brochure, effective 30 June 2022 (PDF, 604KB), opens in a new window.

This insurance covers the amount of the excess for which you are liable under the rental agreement or property damage for which you are liable up to $5,000, whichever is less.

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Below is just a limited summary. For the full list of benefits, as well as the applicable terms and conditions, exclusions, limitations, applicable floors and deductibles, please see the Card Insurance Information Brochure, effective 30 June 2022 (PDF, 604 KB), opens in new window.

If you have an eligible card and are making an eligible purchase, these free insurances are also available.

Free International Travel Insurance If your card is eligible for free international travel insurance, here's what you need to know.

Free Extended Warranty Insurance Learn about coverage, eligibility and the simple claim process for your Extended Warranty Insurance.

Porsche Drive Rental

The most convenient way to make a claim is to use the claims form and email the Allianz Global Assistance (AGA) claims team or call AGA on the numbers below.

Call Allianz Global Assistance (AGA) Monday to Friday 8:30am to 5:00pm (AEST/ADST). Emergency assistance is available 24 hours a day, seven days a week. Additional charges may apply for calls made from mobile phones, payphones or hotel rooms.

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AWP Australia Pty Ltd ABN 52 097 227 177 AFSL 245631 trading as Allianz Global Assistance (AGA) has issued an insurance group policy on behalf of the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (Allianz) National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit License 230686 (), allowing eligible persons to claim therefrom as third party beneficiaries.

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Eligible cardholders and other eligible third-party beneficiaries have access to the benefits of card insurance coverage under Section 48 of the Insurance Contracts Act 1984 (Cth). Any insurance advice is general advice only and is not based on consideration of your goals, financial situation or needs. You need to check if this is the case

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