Collision Damage Waiver (CDW) Insurance (which can also be known as Damage Waiver Insurance) is a kind of rental insurance which provides coverage for the hirer against having to pay a surplus payment in case of harm to the hired vehicle. The surplus amount is usually a couple of hundred Euros for any small vehicle, rising up to one 1000 Euros for bigger rental vehicles for example 7 seaters and minibuses.
Even though some rental vehicle policies include “zero excess” or “full cover”, the cost from the rental contract usually reflects this. Lots of people will appear to obtain the least expensive possible quote, and never purchase any extra insurance. CDW cover can also add around 20% towards the total car rental quote.
In Europe most countries will need the vehicle has third party insurance legally, therefore the cheapest quote prices could be third party, fire and thievery having a high CDW excess figure. By buying CDW insurance for that rental vehicle, the hirer won’t be prone to spend the money for excess figure in case of harm to the automobile.
For instance, think about a rental contract to employ an economy vehicle including third party insurance as well as an excess figure of ?500. The hirer decides to not buy the additional CDW insurance policy. When the vehicle is in an accident however the hirer from the vehicle hasn’t purchased CDW cover, so he/she’ll be prone to spend the money for first 500? for the damage. Typically the price of cover per week might be around ?50, therefore the hirer is having to pay ?50 to potentially save ?500 if damage occurs.
It’s worth checking what damage isn’t taught in CDW Insurance plan. Frequently steering wheel damage, lack of keys, interior upholstery damage and glass damage might not be covered. Some rental companies offer additional insurance to pay for these kinds of damage, this can be known as “Super Insurance” or similar. Ask the rental company what’s not taught in policy.
In case of any sort of accident or harm to the rental vehicle it is almost always needed the hirer obtains a police report, as this is necessary for insurance providers. You should seek advice from the car rental company whether a police report is needed or no damage occurs.
For most of us the choice of whether or not to purchase additional CDW insurance is only a few reassurance, and lots of will take a calculated risk, and never remove the CDW cover.
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