What insurance do I need when hiring a car?

With the hiring of cars and other vehicles becoming increasingly popular, it is important to know the ins and outs of the necessary insurance required for the act of hiring a car. Hiring out high grade, brand new vehicles to complete strangers is something which car rental franchises have to be exceedingly careful about. For this reason, high levels of cover through the means of rigorous insurance policies are required.

This article will serve to explain a little more about how car insurance works for drivers using hired cars.

Collision Damage Waiver (CDW)

This insurance, sometimes known as Loss Damage Waiver (LDW), covers the car should any collisions occur whilst you – the hiring party – are driving it. In the instance of a collision or any damage to the car, the person hiring the vehicle must pay an excess to the insurance company before they will continue to pay the rest for the vehicle to be fixed.

Theft Protection (TP)

This insurance, as the name suggests, protects and limits those driving the hired vehicles from liability in the instance of the hire car being stolen. As with the Collision Damage Waiver, however, there is still an excess to pay.

The excess required by the companies can often be great, with some excesses reaching amounts in the region of £1,500. With the act of hiring a car becoming ever-cheaper, it is in fact aspects like the excess that makes the process expensive. After rental franchises have paid fees to brokers and online comparison sites, there is little profit margin left for the companies.

Personal Accident Insurance (PAI)

This is another type of insurance offered by car rental companies. This insurance, which pays out in the instance of serious injury or worse in a hired car, is extremely necessary. It is worth noting, however, that many travel insurance policies will cover this within their policies, meaning you do not have to purchase extra Personal Accident Insurance with the hire of your car.

Here at Gatwick Car & Van Rental, we can supply you with the right vehicle for your needs. Whether you’re looking for a cheap, economy car for small journeys, or a larger estate for family trips, we’ve got the right rental for you – all offered with unlimited mileage.

With prices starting at £15.56 per day, and full breakdown cover on every car hire, you’re sure to find a deal that suits your budget. Serving Crawley and the surrounding area, don’t hesitate to get in touch with our friendly team today to find out more or hire your car.