What is Car Hire Excess Insurance?

When you hire a vehicle you will probably take out the vehicle rental outlet's Loss Damage Waiver cover (sometimes referred to as LDW or Collision Damage Waiver or CDW). This will include an Excess which varies depending upon the vehicle hired and location but it is often up to £1,500. This Excess is the amount you, as hirer,will be required to pay towards the repair or replacement costs if the vehicle is stolen or damaged. The Odyssey range of policies offers you insurance against the costs of the Excess.

Not only does Odyssey cover you for the total amount of Excess for which you liable if the hire car is stolen or damaged up to a maximum of £2,000 any one claim, it also includes damage to the roof, undercarriage, windscreen, windows and tyres, as well as drop off charges and replacement of lost or stolen keys.

How it works:

Car hire excess insurance is voluntary.  The Odyssey policies cover the Policyholder, not the hire car, and are available on an annual basis to cover all hirings within twelve months or on a short term “daily” basis to cover a specific hiring.  Arrange your cover online from the comfort of your home and simply decline the Excess cover offered by your rental outlet at the counter when collecting your hire car.  In the event that your hire car is stolen or damaged, the rental company will charge your credit card for the Excess amount.  Complete the claim form and follow the claims procedure in the Claims Section of the website as soon you can following the incident for prompt reimbursement of the Excess charge.