So you’re planning to hit the road sometime soon and want to stay protected while on the go. If so, that’s a very reasonable move.
Hiring a car and going on a road trip may seem like all fun and games, but the truth is that there are some risks that you have to consider before going all out on your upcoming journey.
One of the things every car-renting traveller should have with them is a rental car insurance policy. Many travellers wrongfully assume that their standard travel insurance plan covers accidents in a rental car, but the truth is that’s not always the case.
In fact, it’s more likely that accidents involving a rental car won’t be covered at all, meaning you’ll have to spend a large amount out of pocket in the event of a collision, a hospitalisation, or damage involving a third party.
As this is the case, it’s crucial to prop yourself up with a rental car insurance policy alongside your car rental. That said, you shouldn’t pick just any car insurance policy. There are some ways you can make the process offer the best bang for your buck in terms of overall value.
So if you want to pick the best car rental insurance policy, you’re in the right place. This guide will tell you everything you need to know to get and make the most of a global car rental insurance as a multi-city traveller.
Let’s jump right into it!
What is a Global Car Rental Insurance?
A global car rental insurance policy is an insurance plan that covers a variety of damages when you’re using a car both inside and outside your country.
It covers the cost of damages for theft, liability, or other unexpected incidents, helping you avoid incurring additional expenses out of pocket.
More specifically, this car rental insurance scheme helps keep you protected against damage to a rental vehicle. Many third-party insurers often offer this perk at a fraction of the in-house price of leading car rental companies, like rental car insurance with RentalCover.
So if you have cracked windshields, flat tyres, or other car issues, you can rely on insurance companies to bail you out.
Global car rental insurance also takes it a notch further from your typical car rental insurance policy. Instead of just offering basic coverage with limited protection, global car rental insurance often has several additional perks and more reliable coverage options to keep your finances protected as you travel.
In essence, you don’t have to worry about spending thousands of dollars on this insurance plan. This makes it a great product to have when you’re travelling around the world and don’t want to be stuck with only a basic insurance plan.
Benefits of Owning a Global Car Insurance
Travel insurance is important, but there are other reasons why having a global car insurance policy on top of that can be even more helpful for travellers and tourists who plan on renting a vehicle.
Here are some notable reasons why owning a global car insurance plan is beneficial for worldwide travellers.
- Comprehensive Protection Wherever You Drive
Whether you’re planning to drive around your hometown, across borders, or on a totally different continent, you can rest easy knowing that a global car insurance policy can protect you wherever you go.
This type of insurance policy is very often comprehensive and all-inclusive. It can cover a wide variety of scenarios, such as theft, collision damage, liability claims, vandalism, natural disasters, and hospitalisation—up to the extent that the contract stipulates.
Moreover, this protection stays with you regardless of where you are presently located. It doesn’t matter whether you’ve hired the car in one country and encountered a claimable issue in another, as this global comprehensive policy will ensure you remain protected no matter where you are.
- Lower Out-of-Pocket Expenses
A unique benefit of a global car insurance policy is the reduced deductible requirement that this insurance type offers. Typically, rental companies re quire customers to pay a deductible to ensure that they get coverage for their rental car. This can increase the cost of the insurance policy needlessly.
With a global car insurance, this deductible is essentially waived, or at the very least, reduced to an insignificant amount. This leads to more cost savings and helps you stay financially flexible while travelling the wide open road—which is always a good thing for the budget-strapped traveller.
- Added Convenience and Peace of Mind for Travellers
Dealing with different insurance rules and rental policies abroad can understandably be quite confusing.
With a global plan, you don’t have to constantly navigate different insurance policies, laws, and languages to secure protection. You can simply sign up for a single one and enjoy the protection it offers you, no matter where you go.
This can give busy travellers who move countries at a fast pace peace of mind, as they can focus on the travel instead of spending a lot of time getting insurance policies across different countries.
What to Look For When Picking a Global Car Rental Insurance?
In any case, not all global car rental insurance plans are the same. Here are a few key points to consider when choosing your next global car rental insurance plan:
- Coverage inclusions: Consider whether the policy has specific protection for a wide variety of circumstances, including theft protection, liability, and others. More is better.
- Deductibles: Look for plans that have low or zero deductibles to avoid incurring a lot of expenses upfront.
- Region or country eligibility: Consider the availability of the plan across the regions you plan to visit, as this can vary from policy to policy.
- Exclusions: Read into what’s not covered so that you won’t encounter any surprises or put yourself in a risk situation that’s not actually covered.
- Customer support: Choose a provider with 24/7 global support.
- User reviews: Look into what other customers have to say about the insurance provider and the insurance product.
- Cost and plan flexibility: Consider the ease of use and the cost of the plan to ensure that you’re getting a good deal from it.
By taking the time to review and compare different car insurance plans, you can narrow down your options and select the most suitable one to fit your needs the most.
What to Do If You Have an Accident? Claiming With Global Car Rental Insurance
Once you’ve secured an insurance policy, the best thing to do is to practice safe driving methods and hope that you don’t actually encounter an accident.
That said, the chances of an accident happening aren’t always 0%, even if you play it safe throughout the journey. In such cases, the good thing is that you’re prepared. Here’s what you can do to ensure that you can successfully claim your insurance after an eligible incident.
- Document the incident: Take photos of the involved subjects and objects, including the car, people, plate number, location, and more. Gather witnesses and their numbers as well.
- Notify the rental company: Let the rental company know about the damage, as well as its severity. Fill out an incident report.
- Contact your insurance provider: Call their claims hotline and answer any questions they may have. Listen to what they have to say and follow any instructions they may give out.
- Make necessary submissions: Send scanned copies of crucial documents or upload them via their website portal or app.
- Wait for assessment and reimbursement: The insurer reviews your claim, then pays the rental company directly or reimburses you, depending on the policy.
We hope that these tips can help you when navigating a global car rental insurance policy. All the best in your travels on the road!
