Cheap car hire excess insurance

A cheap car hire excess insurance policy can be a good way to bring down the expensive excesses rental companies typically charge if your rental is damaged or stolen. However, cheap policies usually come with a few sneaky exclusions, so don't get ripped off with a bargain policy.

Save on your policy with a coupon

Rental Cover Deals

30% off RentalCover.com policies

Available if you're a senior, student or part of the military. You’ll need to send RentalCover.com a copy of the appropriate I.D as proof of eligibility.

Last verified 5 Nov 2019

Get deal

Tripcover Deals

5% off your car rental excess policy

Get 5% off your next policy with Tripcover by using your frequent flyer number when you take out car rental excess insurance cover.

Last verified 5 Nov 2019

Show code

Compare cheap car rental excess insurance

Name	International or domestic cover	Eligible driver age	Features	Starting price (per day)	Apply
American Express	Both	Up to 79 years	Cover up to $3,000 Underwritten by Chubb Excess options: $100, $200 and $500	$2.83 (with a $100 excess payable)	Get quote
Tripcover	Both	21–71 years	Cover from $4,000 to $8,000 Underwritten by Allianz Excess options: Nil or $300	$5.68 (with a $300 excess payable)	Get quote
Car hire excess	Both	21–71 years	Cover from $4,000 to $8,000 Additional cover for damage to windscreens, roof, tyres and underbody Underwritten by Lloyds No further excess payable	$9.30	Get quote
Rentalcover.com	Both	19–75 years	Complete vehicle cover for up to $100,000 in damages Can be used with any rental car company worldwide 30% discount for seniors, students and those in the military No further excess payable	$9.48	Get quote

Is it a good idea to get cheap car hire excess insurance?

Without car hire excess insurance, you might have to fork out up to $8,000 if your rental car is damaged in any way. Cheap car hire excess insurance is helpful if you want to reduce that excess but your wallet will still take a hit. Your excess won't be thousands, it's more likely to be a couple hundred bucks, so you'll still be out of pocket.

If that doesn't bother you, then cheap rental car insurance could be just right. It's definitely better than not getting any cover at all.

Just keep in mind that your cover will be limited to your rental agreement without any extra provisions the way other policies might. As an example, if your rental agreement doesn't cover damage to windscreens, then your rental car excess insurance won't cover it either. Some brands like Rentalcover.com and Car Hire Excess actually do cover this as an added benefit.

If you're someone who prefers more comprehensive cover, then getting a cheap policy might not be the best idea. As you can imagine, with any cheap policy, you get what you pay for. Most cheap car hire excess insurance policies will have more restrictions.

What's not included in budget policies

Budget policies have appealing price tags but don't let that trick you; they often come with a catch. Here's what to look out for.

• Excluded cover. Windscreens, tyres, roof and underbody are often excluded from cheap car hire excess insurance policies, which doesn't really help you, considering that a chipped windscreen or flat tyre are among the most common things to go wrong.
• Cover for specific vehicles. Some policies will only cover certain types of vehicles so make sure your car is included if you opt for a cheap policy.
• Excesses. With a cheap policy, you'll probably still have an excess to pay. Sure, it won't be thousands but you could still looking at a few hundred out of pocket.
• Additional drivers. Budget cover may exclude additional drivers or charge more to add them onto the poli
• Cover for lost keys. More comprehensive policies can also include cover for lost keys and replacements.
• Cover for administration fees. If you need to make a claim on your rental car, some rental companies actually charge administration/processing fees. This will be a further out of pocket expense with a cheap policy.

Other ways to save

You don't need to get cheap car rental excess insurance to save money. There are other options out there that give you better value for your money. These include:

• Increase your excess option. Choose a brands that lets you select a level of excess that you're comfortable with and hope you don't have to make a claim.
• Discounts/coupons. Take advantage of available coupons to save a few more dollars off your policy.
• Get an annual policy. If you hire cars regularly, then an annual car excess insurance policy is a cost-effective way to go.
• A travel insurance policy. Are you travelling overseas, interstate or at least 250km away from home when you hire a car? If so, you'll probably already get some kind of travel insurance. All you need to do is take out a policy that includes car rental excess cover.
• Compare car hire. It can save you loads.

Read more:

• 

  What's a collision damage waiver?

• 

  Learn about travel insurance with car rental excess

• 

  Learn more about Rentalcover.com