Confused between the excess and deposit?

Got a question about how insurance and excesses work when hiring a car? This is the place to post.

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Indigo Ann-Marie
Posts: 43
Joined: 09 May 2014, 12:27

Confused between the excess and deposit?

Postby Indigo Ann-Marie » 03 Jul 2014, 09:42

Over the past few days we've had a couple of customers who seem a little confused between the deposit that will be held on their payment card on arrival, and the excess on the vehicle.

These 2 topics are completely separate but can sometimes come together, so it can be a little confusing. Basically, the deposit amount depends on the supplier you book with, this can vary from Zero, up to £1000+. This is held on your payment card when you collect your vehicle for the duration of the hire, and is released when you return the vehicle. As long as the vehicle is returned back in the same state, so with no damage and the same amount of fuel, then you'll receive this deposit back when you return the vehicle.

The excess is the amount that you are liable for if the hire vehicle becomes damaged while in your possession. Again this amount can fry from supplier to supplier. The excess only comes into play if you damage the vehicle. In certain places such as Spain, you can take out the excess reduction with the supplier directly when you collect, and depending on the supplier this can reduce your deposit down to zero, meaning that no money is blocked on your debit card when you collect. This does not always apply, so if you are looking for a zero deposit or low deposit, then please don't book on the website, as this varies from supplier to supplier.

We ourselves offer an insurance coverage which is called excess reimbursement. This is completely separate from the deposit and the hire company themselves, and means that if you were to damage the hire vehicle, you would pay the initial cost to repair the vehicle to the supplier, and the amount you paid for the damage would be refunded in full through the insurance company within 28 days. This can be very valuable, especially if you have a vehicle for a long period of time, considering rental companies can charge quite a bit per day for their own insurance policy.

If you are still confused by any of the above, then we are always here to help of course!

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