When booking a rental car, you may face unfamiliar notions like “Third Party Insurance.” But don’t be confused by these words, as you can easily figure them out if you check out the relevant information.
Keep reading to learn about the best third-party car rental insurance and understand why it is vital to rent a car with the insurance.
What Is Third Party Car Rental Insurance?
Third-party car hire excess insurance is a type of car rental cover that solves issues with damages caused to anyone or anything apart from you and the rental car itself. Thus, if you had an accident, such insurance can cover damage inflicted to the other vehicle and its passengers involved.
There are several names for the third party insurance, which are:
- EP – Extended Protection;
- LP – Liability Protection;
- SLI – Supplemental Liability Insurance;
- TPL – Third Party Liability;
- ALI – Additional Liability Insurance.
Different rental companies offer various coverages. However, if you purchase any of them, you can be aware they all protect the third party involved in the incident. Besides, the third-party liability covers the cost of repairing any damage done to third-party property, the cost of third-party injury, and the cost of legal fees.
How to Act if You Have an Accident in a Rental Car: 5 Steps to Take
Once you have third-party vehicle rental insurance, you can feel free to enjoy your vacation and go sightseeing by car. However, remember to be careful in a new city with unfamiliar roads, as a car crash is the last thing you need while traveling.
Yet, if you have an accident in a rental car, there is no reason to be anxious. Just make sure you have your driver’s license and car insurance, and follow the steps mentioned below.
Assess the Situation
If you got in a car accident, the first thing you should do is to ensure no one was hurt. Call an ambulance if someone is injured or needs help, and call the police to report the accident.
Move to a safe location to save yourself from a possible car explosion if the accident caused significant car damage.
Exchange Contact Information
After making sure the scene is safe, you can exchange contact and insurance information with the other parties involved. Keep in mind that this information includes:
- name;
- address;
- phone number and email address;
- insurance company and policy number;
- driver’s license number;
- vehicle registration;
- and witnesses’ contact information, if there are any.
Be cautious engaging with other parties and don’t sign any statements regarding your fault or promise to pay for the other parties’ damages, even if you caused the accident.
Gather Evidence and Information
Apart from the information gathered from the third parties, you would need a copy of the accident report.
Ask the responding police officer for this evidence, as well as his name, badge number, contact information, and your accident case number. Take several pictures of the damage and the scene of the crash.
Call Your Rental Company
Report your rental company about the accident using their emergency phone number, and ask them how to proceed.
Find out where to bring the vehicle or to have it towed.
Report Your Insurance Provider
Fill a claim with your insurance provider as soon as possible. Call your personal auto insurer or credit card company and ask them to pay damages.
File a report with the rental company about the details of the incident, the parties involved, and your insurance information.
What Happens If You Damage a Rental Car Without Insurance?
If you decline the car rental agency’s coverage, you’d be responsible for paying for the damage done to your car and potentially other vehicles and injured people.
In case you don’t make the rental agency’s coverage but yet have your own auto insurance policy, your personal insurance may cover the cost of damage done to the vehicle, minus your standard deductible.
Keep in mind that it is not necessarily to buy car insurance from the company you’re renting. If you are renting a vehicle on frequent basis, it is advisable not to take daily car hire excess insurance and we encourage you to check CarInsuRent.com car hire excess insurance annual policy to cover your vehicle and protect yourself from any damages, including tires, windscreens, theft, and more, at a fraction of the price you would pay at the rental desk. This website offers international car rental insurance that will cover your trips worldwide as well as car hire excess insurance for non UK residents.
Final Opinion
Summing up, car rental insurance can save you from stress and possible damages relating to a car accident. Check out the third-party car rental insurance options to choose the one that will cover the loss or collision damage of the third parties involved in the accident.
