Whether you’re using the van to move some furniture or you’ve rented it for work, the last thing you want is for the van to get damaged or stolen. Not only will it mean making a stressful phone call to your rental company, but you could also have to pay a fairly high excess charge. Often this is included as part of any insurance package you get when hiring a van.
However, there is an additional level of insurance policy called “van hire excess insurance” which promises to save you from these bills.
But is it worth it? We look at what van hire excess insurance actually is and weigh up whether it’s value for money.
When you hire a van your rental company will typically include insurance as part of the deal. So if anything happens, you won’t have to pay for all the repairs out of your own pocket.
However, it will also come with an excess, which is the amount you have to pay before the insurance money kicks in. Say the van needs repairs that are worth £3,000 and the excess is £1,000; you would have to pay a grand and the insurer would pay £2,000. In fact, while the figures used in this example might sound high, the excess that comes with rental vans can be steep. We’re talking hundreds, if not thousands, of pounds.
So van hire excess insurance is an additional level of cover you can get which saves you from having to foot a large part of the repair bill.
At bare minimum a van hire excess insurance policy will reimburse you for excess costs the van rental company demands you pay after an accident.
However, van hire excess insurance policies sometimes come with added extras, such as the following:
Having van hire excess insurance could tempt you into thinking that whatever happens, you won’t have to pay a single penny. However, there are several reasons why you might still have to stump up some (if not all) of the excess.
Not all insurance companies have the same eligibility requirements, so always check the policy documents before you sign up. However, here’s a general guide to who can get van hire excess insurance.
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