Car Hire Insurance
#1
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Joined: Aug 2013
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Car Hire Insurance
Off to Canada in a month or so on secondment with work.
Not sure what the car situation will be at the moment - it depends on where we end up living and whether or not my employer pays certain allowances - still to be decided! Upshot is, I might be a repeated hirer of cars!
I have seen an insurance policy which covers the excess and damage to vehicle (things that the standard insurance from the hirer does not cover). For a 12 month policy for US and Canada it is about £80. I was going to buy it before I left, but does anybody know are these policies cheaper to buy in Canada?
Not sure what the car situation will be at the moment - it depends on where we end up living and whether or not my employer pays certain allowances - still to be decided! Upshot is, I might be a repeated hirer of cars!
I have seen an insurance policy which covers the excess and damage to vehicle (things that the standard insurance from the hirer does not cover). For a 12 month policy for US and Canada it is about £80. I was going to buy it before I left, but does anybody know are these policies cheaper to buy in Canada?
#2
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Re: Car Hire Insurance
p.s. I think I'd go for the worldwide policy for a tenner extra, which would cover me in any car I hire when I return to the UK
#3
Joined: Sep 2008
Posts: 12,830
Re: Car Hire Insurance
Off to Canada in a month or so on secondment with work.
Not sure what the car situation will be at the moment - it depends on where we end up living and whether or not my employer pays certain allowances - still to be decided! Upshot is, I might be a repeated hirer of cars!
I have seen an insurance policy which covers the excess and damage to vehicle (things that the standard insurance from the hirer does not cover). For a 12 month policy for US and Canada it is about £80. I was going to buy it before I left, but does anybody know are these policies cheaper to buy in Canada?
Not sure what the car situation will be at the moment - it depends on where we end up living and whether or not my employer pays certain allowances - still to be decided! Upshot is, I might be a repeated hirer of cars!
I have seen an insurance policy which covers the excess and damage to vehicle (things that the standard insurance from the hirer does not cover). For a 12 month policy for US and Canada it is about £80. I was going to buy it before I left, but does anybody know are these policies cheaper to buy in Canada?
It may be hard to buy insurance outside of the rental companies here unless you already have a vehicle policy in Canada.
http://www.theglobeandmail.com/globe...article624007/
#4
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Re: Car Hire Insurance
Why is car insurance so expensive in BC if the limit on liability is just $200,000???
#5
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Location: White Rock BC
Posts: 11,682
Re: Car Hire Insurance
Because the government takes $1/2billion out of the insurance corporation as a "dividend" each year. You have to buy Basic (legal minimum) Insurance from a Crown Corporation so they charge what they like. There is competition for insurance beyond the legal minimum so prices are more reasonable. Liability insurance is not that expensive. It does depend on your driving record though. I can't remember the exact amount but on my policy bumping the liability from $200,000 to $5m is only about $200.
#6
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Re: Car Hire Insurance
Then it shows clear as day that ICBC needs to be sold off.
#7
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Location: Maple Ridge, Super Natural British Columbia
Posts: 2,071
Re: Car Hire Insurance
But that won't happen, as it is a monopoly providing a legalised form of extortion.
Back to your original question, I would get one of the car hire excess and CDW cover policies available in the UK.
https://www.icarhireinsurance.com/ca...-products.html
79.99 for USA/Canada Annual, plus if you use Topcashback or Quidco, you can get approx 21% cashback with that particular one.
That price would only buy you about 4 days CDW with a car hire company.
Do bear in mind that you will still be charged a deposit - any claims have to be paid by you and claimed back from the insurer. It's the same with any of these policies, because the car hire companies don't recognise them and they will not deal with them directly.
The car hire companies are quite slow at releasing deposits held against your card - make sure you have plenty of available credit on your credit card, as you may end up in the situation that they haven't released a 'hold' by the time you next hire a car, if you hire and off-hire cars regularly.
Back to your original question, I would get one of the car hire excess and CDW cover policies available in the UK.
https://www.icarhireinsurance.com/ca...-products.html
79.99 for USA/Canada Annual, plus if you use Topcashback or Quidco, you can get approx 21% cashback with that particular one.
That price would only buy you about 4 days CDW with a car hire company.
Do bear in mind that you will still be charged a deposit - any claims have to be paid by you and claimed back from the insurer. It's the same with any of these policies, because the car hire companies don't recognise them and they will not deal with them directly.
The car hire companies are quite slow at releasing deposits held against your card - make sure you have plenty of available credit on your credit card, as you may end up in the situation that they haven't released a 'hold' by the time you next hire a car, if you hire and off-hire cars regularly.
Last edited by withabix; Oct 5th 2014 at 2:17 pm.
#8
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Re: Car Hire Insurance
Thanks. Looks like that policy is good value indeed by Canadian standards. That is exactly the policy I was going for and had bought single trip policy before. Good tip re: cash back!
#9
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Location: Maple Ridge, Super Natural British Columbia
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Re: Car Hire Insurance
I had their worldwide annual policy last year - saved me a lot of money on car hire insurances in Canada, UK and Europe.
#10
Joined: Sep 2008
Posts: 12,830
Re: Car Hire Insurance
Without liability coverage, which is likely to be the largest part of any claim, a policy is of little value. Also, consider uninsured driver losses, if the other driver is uninsured, who is going to pay the bills? None of these policies cover liability it seems. I get pretty much what is in these polices on my credit card insurance, I still take out ICBC Road Star Plus coverage for the extra liability.
Personally I would not go on a North American road without $5m liability coverage.
Personally I would not go on a North American road without $5m liability coverage.
#11
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Location: Maple Ridge, Super Natural British Columbia
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Re: Car Hire Insurance
Hire car companies' Owners Insurances (Public Liability Insurance) cover the 3rd party liability and is included in the basic price of all Rentals - i.e. it isn't an optional add-on.
I believe this is $5 million in Canada and is required by some Law or other in each Province.
Here is an example from the Avis.ca website:
Public Liability Insurance is the liability coverage for vehicles that is required by applicable law if a driver causes injury to a third party. Avis provides this liability protection for its vehicles. In most instances, this will include coverage for the renter or authorized driver up to the minimum financial responsibility limits of the jurisdiction in which the accident takes place. This is at no additional charge. In some provinces, particualrly Ontario, the liability coverage which is provided is secondary to any other applicable coverage. This means the renter's personal auto liability insurance is used first, and the Avis protection will not apply until the renter or driver's insurance, if any, has been exhausted. Please check with the rental agent or nearest Avis reservation center regarding the applicability of secondary protection for specific locations and jurisdictions. You should also check with your own insurance company to determine the level of your protection under their policy.
The policies the OP is talking about here are the CDW and Excess that you can insure via the car hire company, but at a high cost.
I believe this is $5 million in Canada and is required by some Law or other in each Province.
Here is an example from the Avis.ca website:
Public Liability Insurance is the liability coverage for vehicles that is required by applicable law if a driver causes injury to a third party. Avis provides this liability protection for its vehicles. In most instances, this will include coverage for the renter or authorized driver up to the minimum financial responsibility limits of the jurisdiction in which the accident takes place. This is at no additional charge. In some provinces, particualrly Ontario, the liability coverage which is provided is secondary to any other applicable coverage. This means the renter's personal auto liability insurance is used first, and the Avis protection will not apply until the renter or driver's insurance, if any, has been exhausted. Please check with the rental agent or nearest Avis reservation center regarding the applicability of secondary protection for specific locations and jurisdictions. You should also check with your own insurance company to determine the level of your protection under their policy.
The policies the OP is talking about here are the CDW and Excess that you can insure via the car hire company, but at a high cost.
Last edited by withabix; Oct 5th 2014 at 5:32 pm.
#12
Joined: Sep 2008
Posts: 12,830
Re: Car Hire Insurance
Hire car companies' Owners Insurances (Public Liability Insurance) cover the 3rd party liability and is included in the basic price of all Rentals - i.e. it isn't an optional add-on.
I believe this is $5 million in Canada and is required by some Law or other in each Province.
Here is an example from the Avis.ca website:
Public Liability Insurance is the liability coverage for vehicles that is required by applicable law if a driver causes injury to a third party. Avis provides this liability protection for its vehicles. In most instances, this will include coverage for the renter or authorized driver up to the minimum financial responsibility limits of the jurisdiction in which the accident takes place. This is at no additional charge. In some provinces, particualrly Ontario, the liability coverage which is provided is secondary to any other applicable coverage. This means the renter's personal auto liability insurance is used first, and the Avis protection will not apply until the renter or driver's insurance, if any, has been exhausted. Please check with the rental agent or nearest Avis reservation center regarding the applicability of secondary protection for specific locations and jurisdictions. You should also check with your own insurance company to determine the level of your protection under their policy.
The policies the OP is talking about here are the CDW and Excess that you can insure via the car hire company, but at a high cost.
I believe this is $5 million in Canada and is required by some Law or other in each Province.
Here is an example from the Avis.ca website:
Public Liability Insurance is the liability coverage for vehicles that is required by applicable law if a driver causes injury to a third party. Avis provides this liability protection for its vehicles. In most instances, this will include coverage for the renter or authorized driver up to the minimum financial responsibility limits of the jurisdiction in which the accident takes place. This is at no additional charge. In some provinces, particualrly Ontario, the liability coverage which is provided is secondary to any other applicable coverage. This means the renter's personal auto liability insurance is used first, and the Avis protection will not apply until the renter or driver's insurance, if any, has been exhausted. Please check with the rental agent or nearest Avis reservation center regarding the applicability of secondary protection for specific locations and jurisdictions. You should also check with your own insurance company to determine the level of your protection under their policy.
The policies the OP is talking about here are the CDW and Excess that you can insure via the car hire company, but at a high cost.
http://www.tdinsurance.com/products-...ntre/about.jsp
Although collision and zero deductible are worth having, they pale in liability exposure to third party claims and costs of defence. My credit card gives CDW and zero deductible, fortunately in Europe there is not a third party liability issue with car rentals, in North America there is. With first hand knowledge of someone who came here without adequate coverage, I would strongly urge anyone to make sure they have the right coverage. Even the rental companies insurance seems cheap when compared to claims costs.
My friends, it changed their lives forever. They had to sell their house to pay the bills.
Insurance can seem a waste of money, until you need it!
Last edited by Aviator; Oct 5th 2014 at 6:30 pm.
#14
Joined: Sep 2008
Posts: 12,830
Re: Car Hire Insurance
If it were left to private insurers, we'd be paying even more. At least a cash cow for the govt. benefits taxpayers, the money has to come from somewhere. Private companies, it would not benefit the province at all.
#15
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Joined: Jan 2006
Posts: 0
Re: Car Hire Insurance
Just a quick comparison to Edmonton. Same car, same driver, same coverage as BC the quote in Alberta $1,289 per year or $107 a month roughly.
30% less then ICBC.
Last edited by scrubbedexpat091; Oct 5th 2014 at 10:35 pm.