If you are looking for a cheaper alternative to the daily car hire excess cover supplied by the car hire companies, then you may wish to have a look at what some of the online insurance specialists have to offer.

The excess on you car hire insurance represents the maximum amount of money that you could be charged following an accident to the hire car that needed to be repaired or even its loss or theft. Depending on the primary insurance in place, this could represent a substantial sum of money.

You can insure yourself against having to pay this excess by taking out daily car hire excess cover to reduce or remove this risk. Excess cover sold by the car hire companies may often be expensive and looking for a cheaper alternative may be a sensible option.

How does it work?

You may at first find the idea of renting a car from one company and buying insurance from another a bit strange. It actually works quite simply.

The first thing that you have to do is to buy your policy in advance of your rental. The daily car hire excess cover will only come into effect on the day and for the number of days that you specify.

When the car hire company offer to sell you ‘top-up’ insurance to cover the excess, you simply tell them that you’re already covered.

From the car hire company’s point of view, you are still responsible for the excess and if you have an accident and there is a repair bill, they will simply charge your portion of this to your credit card.

All you then have to do is claim on your excess insurance policy for reimbursement.

What else do you get for your money?

Unlike daily car hire excess cover supplied by the car hire company, many online products may also offer additional features.

Traditional collision damage waiver (CDW) cover, which is the main form of cover for the car itself, tends to exclude certain parts of the car from cover. If these parts are damaged (typically the tyres, glass and under body) they are in effect uninsured and it is your responsibility to pay any repair costs. Excess cover from an online supplier often includes cover for these parts as standard.

Other typical features include:

• Personal life cover;

• Replacement of broken or lost keys;

• Baggage stolen from the car provided it was locked in the boot;

• Recompense if you have to cut your rental short.

How can I find out more about it?

The sites that supply car hire excess cover will typically also publish their policy documents in easy to understand language. Browsing through these may answer many of your questions.

You could use their online quote facilities to find out exactly just how much it would cost you. Remember that things like the length of the rental, the people who will be driving the car, which country the rental is for, may all affect the price, so it may be useful to have this information to hand if you are looking for a fairly precise figure.

So if you like the idea of saving some money on daily car hire excess cover and of benefiting from some of the additional features on offer, why not have a look online at what’s available? You may be pleasantly surprised.

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