Frequent renters insurance

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v8Statesman

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Does anyone know of a good frequent renters insurance (Australia) that covers the $3,000 odd excess that is the default from many hire car companies?

I'm at 150 days rented this year and I have nothing and I think I've pushed it far enough.
 

ric_melb

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I use an annual travel policy through Amex to deal with the excess issue. At $400 per year it's money well spent for all benefits, and including excess cover. Many other annual travel policies mentioned here include excess cover. Another option is to get an ANZ credit card and for $24 extra a year they cover you for most of the excess.
 

markis10

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I use an annual travel policy through Amex to deal with the excess issue. At $400 per year it's money well spent for all benefits, and including excess cover. Many other annual travel policies mentioned here include excess cover. Another option is to get an ANZ credit card and for $24 extra a year they cover you for most of the excess.

Make sure any annual policy covers domestic car hire, some don't.
 

Pleb Status

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I use an annual travel policy through Amex to deal with the excess issue. At $400 per year it's money well spent for all benefits, and including excess cover. Many other annual travel policies mentioned here include excess cover. Another option is to get an ANZ credit card and for $24 extra a year they cover you for most of the excess.

You can get the ANZ cover for free (still a AUD350 excess however) and 50000 QFFP as well if you apply for a new ANZ card at the moment.
 
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I have TID but never needed to claim so I can't comment about whether they are good at coughing up or not. I am a bit disappointed about how much they've gone up over the last few years (probably 30 - 40% from memory).
 

Alanslegal

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Make sure any annual policy covers domestic car hire, some don't.

TID multi-trip annual policy does. It covers the first $4,000 less any applicable policy excess ($100 in my case).

I have TID but never needed to claim so I can't comment about whether they are good at coughing up or not. I am a bit disappointed about how much they've gone up over the last few years (probably 30 - 40% from memory).

I made a claim with them recently and they easily came to the party. You can see my posts on the Hertz - is a cough car rental company thread - after they charged me for damages I disputed but what's worse and which is why I wont book from them ever, is that nobody in the entire Hertz organisation cared to respond to a simple email I sent them.
 

dajop

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I have used www.worldwideinsure.com for one off rentals, they have specific car hire excess insurance. I think they have annual policy but it does have a limit on number of days. I did look at a few online reviews before selecting it, but haven't made a claim so don't know personally how good they are at paying up etc.
 

AdMEL

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Does anyone know of a good frequent renters insurance (Australia) that covers the $3,000 odd excess that is the default from many hire car companies?

I'm at 150 days rented this year and I have nothing and I think I've pushed it far enough.

A few comments/observations:

Credit Card excess cover is probably your cheapest option.

Given you've noted an excess of approx. $3,000, I assume you're renting from Avis or Budget, which have an excess of $3,017 and $2,846 respectively, inclusive of GST (10%) and admin fee (3.5%). According to the rental agreements, the location/airport surcharge can apply to all or some services/charges, depending on location, so it is possible that the excess may be higher (though when I paid the excess at LST last year, the airport surcharge did not apply) at some locations.

If you're renting from Hertz or Europcar, their excesses are significantly more than $3,000! Hertz excess recently increased to $4,000 and Europcar is $4,015, both inclusive of GST. According to the rental agreements for both Europcar and Hertz, the location/airport surcharge also applies (though Hertz reps have repeatedly told me this is not the case, despite the agreement saying it is) and in the case of Europcar, also the admin fee (3.5%). This could mean the standard excess could be over $5,000! And in the case of Hertz, if no other car is involved, an additional SVA of $2,200 +++! Note that these are the excesses for standard sedans or wagons - excesses for SUV's, 4WD's and prestige cars are higher!

In any event, if you've rented over 150 days, at a cost of at least $25 a day for excess reduction (often a lot higher, when airport surcharges and lower or no excess), even if you had to pay the excess, you'd be still be ahead!
 

JohnK

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An annual QBE policy does the trick.
 

burmans

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If all you are trying to do is cover excess the ANZ Policy at $24/year is hard to beat. If you have a genuine use for a yearly travel insurance then yes. its included there.
 

FrankC

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An annual QBE policy does the trick.

Is that a specific rental policy or a generic travel insurance?

OTH, I know that for TID annual travel insurance, there are some limitation on what domestic is. It used to be certain distance away from home, but now it seems to be overnight/ pre-arranged travel
 
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If all you are trying to do is cover excess the ANZ Policy at $24/year is hard to beat. If you have a genuine use for a yearly travel insurance then yes. its included there.

Do you actually expext me to know that answer?

I used to have no travel insurance and always took the $35 (or so) full excess reduction to zero. That wore thin, as I have only ever once in my life had an incident. Circa 1986, a roo jumped out and did considerable damage (still drivable) and I was covered. After paying out more than a replacement car in this excess reduction rort, I decided to invest each year in a multi-trip policy which for all intensive purposes, has been a waste of money. Once, in 2009 (I think), I was delayed in DFW due to an AA aircraft going tech, which required an overnight at the airport hotel (can't remember the name, but very handy there at the airport). To be honest, the night cost about US$130 and despite all good intentions, I never actually got around to claiming against the policy, so I guess to answer you.......how do i know?
 

JohnK

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but that won't cover if you are renting in your home city
I hadn't quite thought of that until it was mentioned earlier in this thread.

I am OK as long as I don't hire a car in Sydney.
 
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NM

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do check the details of the insurance cover upon which you are relying. Many policies that cover the "excess" for rental car cover only apply if you have paid the rental car company to reduce the excess amount to the lowest amount offered. So if wanting to use the insurance to cover the basic excess amount (which can be $3000 or more) then make sure your policy is valid even if you do not elect to minimise the excess value at the time of renting.
 

burmans

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Do you actually expext me to know that answer?

Well
A) it wasn't a question, and
B) it was a general suggestion to the OP rather then you

But, seeing as you asked the question, I would expect you'd have a general idea as to why you are buying the insurance and what you hope to get out of it, yes!
 
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