Rental Vehicle Insurance Excess Cover

This benefit is only available on The Works, Annual Multi Trip and Domestic plan. It is not available on The Basics plan.  

The TID policy automatically includes rental vehicle insurance excess up to $4,000 with the option to increase it.  You'll still need to take out insurance for the vehicle but you don't have to pay the hefty daily rates to the car rental company to reduce your excess. This benefit is available if you're renting a vehicle in Australia or overseas.

Don't forget that all drivers on the rental agreement must be listed on the TID policy. Read on for more detail about what's covered.

What does the Rental Vehicle Excess benefit cover?

If your rental vehicle is damaged or stolen while it’s in your care, the policy covers the excess or deductible the rental company requires you to pay. This means that you won’t need to pay the rental company to reduce your excess, but you will still need to pay for the physical damage insurance for the rental vehicle and the liability insurance they offer you (that is, any insurance covering injuries to other people or damage to property not owned by you). Although we do have Personal Liability cover in our policy, we won't cover you if you injure someone or damage anyone's property while you are driving a rental vehicle, are a passenger, or are otherwise responsible for the rental vehicle.

If the expected rental vehicle excess is more than AUD$4,000, you can also choose to increase the excess cover with us up to $6,000, for an additional premium when you buy the policy.

What types of Rental Vehicles are included?

The only vehicles that the TID policy covers are those listed in the definition of "Rental Vehicle" within the PDS.

A rental vehicle means only a rented sedan, campervan/motorhome, hatchback or station-wagon, four wheel drive or mini bus/people mover rented from a licensed motor vehicle rental company.

You won't be covered for these vehicles other type of vehicle other than those mentioned in the definition. 

Good to know

CDW/LDW - Collision Damage Waiver/Loss Damage Waiver are terms used to describe the physical damage insurance for the vehicle itself.

This is a summary of the cover provided under the Rental Vehicle Insurance Excess and you should read the PDS for the full terms, conditions, limitations and exclusions that apply.

This article was written by Travel Insurance Direct.
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