4 Things Your Car Insurance May NOT Cover!

Most people enjoy their problem-free holiday without worry; however, it’s estimated that as many as one in six holidays have something go wrong due to trip cancellation, lost baggage, stolen items, car rental damage and more. While some of these mishaps are totally unforeseen, most are predictable or even preventable.

Car accidents are one of those problems that are predictable, and while they’re not always completely preventable, there are certain steps that you can take in order to protect your financial well being before putting the rubber to the road. Conversely, the other option is to not purchase insurance, which can ultimately lead to a hefty bill if your insurance company refuses to pay out on your claim.

Steve Sherlock, co-founder and CEO of Bonzah.com and licensed agent in 50 states, recommends the following approach, “You should take a closer look at your insurance policies next time you rent a car or go on vacation. Chances are that you’ll be surprised what isn’t covered and how many excess charges and fees could arise. To prevent losing your money, you should understand what coverage is provided for your vacation and supplement it where needed.”

  1. There’s a Limit for Your Car Insurance 

Standard auto insurance is legally required and important for all drivers, but it will not always cover damages, accidents or theft when renting a car. Even if your auto insurance policy covers rental cars both at home and abroad, chances are you’ll still find yourself with a $2,000 to $4,000 bill for certain damages, deductible payments or bills that exceed your coverage limit if you get into an accident. The challenge is that many rental companies don’t inform policyholders of the potential out-of-pocket expenses unless you seek them out or before it’s too late.

  1. There’s a Lack of Personal Accident Coverage

When travelling outside of the country, it’s important to ensure that you and your family are covered in the event of an accident. In most foreign countries your medical insurance will not be valid and unless you purchase insurance to protect your family you’ll be on the hook for medical emergencies, evacuation and anything else that could potentially occur. For this reason you’ll see many travellers purchase travel insurance or some sort of specific medical coverage for an upcoming trip.

  1. The Liability Coverage May be Inadequate

It’s also important to have insurance coverage to pay for claims against you from people who may sue after an accident. Personal liability insurance should protect you from bearing the cost of injury and damage litigation in the event that you cause an accident in your rental car. In addition, in countries where auto insurance is non-mandatory or unpopular, you may want to consider purchasing a policy that provides you with coverage if a third party is liable for an accident, but does not have any insurance.

  1. What Damage is Not Typically Covered?

If you are planning a vacation with a rental car, consider what you’re willing to pay for in the event of damage or an accident. If you accidentally damage your windshield, lights, bumpers, trim, overheads, undercarriage, wheels or tires and you haven’t purchased rental car insurance (aka collision damage waiver) then there’s a good chance you’re paying out of pocket.

However, if you’d rather have the peace of mind of paying $7.99 a day and having everything covered versus risking having to pay a deductible, for damage or theft of the car, then car rental damage insurance is probably the best bet for your trip. Car rental damage insurance can increase the likelihood of a smooth vacation and can help keep everyone a little more at ease in case of an accident. To learn more about car rental damage insurance visit Bonzah.com, one of the few companies that offers primary insurance that will reimburse you up to $35,000 in repairs, replacement of the rental car for any reason out of your control and any deductible at a fraction of the cost of major car rental companies.

Ultimate Guide To Rental Car Insurance (Guest Post)

Car Rental Excess Insurance

Guest Blog Post

You’ve heard this one. It’s the birthday of someone special. In your opportune hours of kindness and generosity, you planned to put them behind the wheel of a nice car and travel somewhere special, maybe even somewhere magical. You didn’t purchase rental car insurance.

Things didn’t go as planned.

It might have been an accidental dent on your door from a nearby car, or perhaps you were simply blamed for damage that you missed during the inspection when you were at peak excitement for the adventure ahead. Was it really your fault? You hand the keys back with a whopping $5000 hit to your credit card and a sour taste in your mouth as you utter… more>

 

Latest Car Rental Excess Insurance Claim Review

The latest claims review for our car rental excess insurance product from another satisfied customer

 

 

by far the best insurance company I dealt with

5 out of 5, reviewed on Jun 08, 2017,
“Whole process of rental car insurance claim was extremely easy and transparent. No hidden catch, no excessive paperwork, no need to call different departments to find our what is happening to your case. They simply paid what was promised”

SOLO TRAVELING AROUND TASMANIA – 10 GOOD REASONS

Alleine-durch-Tasmanien-6If you wanna travel around Australia on your own, then you should definitely consider self-driving around Tasmania. Tasmania is the smallest state of Australia far down in the South. Read on to find out why solo traveling around Tasmania is a good idea…..More>

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Allianz Enters the Car Rental Excess Insurance Market

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Hi folks, yes that’s right I am writing an article about our number one competitor as it enters our category and market place. Allianz.com.au, one of the world’s biggest insurance companies has now entered the car rental excess insurance market and is competing head to head with Tripcover’s car rental excess insurance products.

This is a great sign for us as a giant like Allianz, entering this category that my brother Steve and I created in Australia, verifies that this means business and our category is not likely to go away anytime soon.

And what is this category? Well, anyone that has ever rented a car will know what I am talking about. You know, you get to the car rental desk and they ask you if you want to take out their CDW or Collision Damage Waiver (it is basically their own insurance that
they manage themselves only they can’t call it insurance).

Now this CDW can cost as much as the rental car itself or even more, per day and so can double your rental costs.  The car rental insurance policy that Tripcover sells is around $9 per day. Although the policy that Allianz sells is the exact same product, supplied by Allianz Global Assistance, they have a higher rate due to it covering 21 to 75 year olds. We have split our age range so that you can by our policy for either 25 to 75 year olds or 21 to 24 year olds and it is considerably cheaper.

About the Car Rental Excess Insurance Category
With present sales of around $10M in Australia and representing around 3% of the car rental insurance market, we estimate that the category will be worth some $38M by 2020 and represent around 8 to 10% of the car rental insurance market place, by then.
Car rental excess insurance has been going in Australia since the start of 2012, for over 4 years now and we see it becoming main stream by 2020.

 

Peace of Mind & Service at a Fraction of the Cost

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Latest ProductReview from Brad one of Tripcover’s Customers
Hiring vehicles when driving in unfamiliar areas as well as being worried about even slight damage such as carpark door dents, bumper / undercarriage damage & windscreens, is always a concern. However, Tripcover gave us peace of mind. Beforehand I had a query re the policy’s T & C’s & Des personally responded within a day.

Great service at a fraction of the car rental company’s excess reduction (which also does not cover the extent of damage that is covered by the Tripcover policy). And it’s backed by Allianz should a claim be made. We look forward to using your rental vehicle insurance service again in the future.