A leading car hire supplier is urging all of its customers to purchase Collision Damage Waiver Insurance (CDW), following the shocking revelation from a recent survey that 63% of holidaymakers fail to do so when hiring a car abroad.
The survey, conducted by the Post Office and summarised in their car rental report, also found that the cost of paying the excess of a car hire policy abroad could reach nearly £1200 to those without adequate insurance. This excess could occur through an accident, the theft of the car or vandalism to the vehicle, regardless of who may be at fault.
Briony Fairbairn of eRentals.co.uk said: “There is a worryingly high percentage of people who fail to purchase adequate insurance when driving abroad; collision damage waiver is something everybody should have when renting a car. Purchasing excess insurance at the rental desk can be costly but, if holidaymakers purchase CDW prior to their trip it can cost as little as £4.99 a day. However neither of these costs are close to what you would pay if you had to pay the excess on your policy, which usually starts at around £400.”
Many excess insurance policies will cover the excess on the rental agreement for up to £50,000 worldwide, plus the tyres, windscreen and under carriage of the hired vehicle, which are often not covered by the basic insurance you receive within the rental cost.
Overall excess charges researched in 19 European holidays revealed Turkey and Bulgaria had the lowest excess charges while Switzerland and Ireland carried the highest, with £1,064 and £1,186 respectively. 79% of holidaymakers also failed to take out excess insurance for tyres, undercarriage and window damage if not already included in their insurance, according to the report.
Briony added: “Not purchasing CDW insurance is a risk travellers should not be taking. We should view this as a compulsory cost when hiring a car, not an ‘additional extra’.”
