Insuring your hire car can be baffling, especially if you are offered insurance in addition to the free cover that most vehicles come with. You will be safer finding out your options to ensure you are getting the best deal in the market.
Like other countries, rental cars come with three types of car insurance Australia; damage cover, third party liability cover and theft cover. The moment you book a vehicle, these covers are part of the package deal. They also come with an excess, which is the first part of the bill which you will have to clear.
Since parts like windows and engines are not covered, there are four main options you are left with for insuring your rental car. Upon booking your car through a comparison website or a broker, you can get car insurance quotes as well, compare them and buy it as an addition to top up with the deal it comes with.
The other option is to directly protect your rental vehicle with the rental company car insurance. This can be done at the same time when booking a car directly from the rental company. The rental company can act as your insurer if you meet their set terms freeing you from using out-of-pocket money if you need to make a claim. However, this covers is like a super collision damage waiver, which is not technically insurance.
Your third option is taking on a third-party insurer. There are several options online designed just for rental or car hire. Most of them sell them as excess protection insurance. Their prices could be lower than additional covers or direct cover from the rental company.
The fourth option is not buying any additional insurance. Remaining with the necessary cover which comes with the deal renders you free of any additional costs. However, your excesses may not be reduced or protected such that if the rental car is damaged in your hands, you will lose your deposit and will pay the full excess.