For group traveling, hiring a bus and coach is the best option. You can hire a bus from a reliable bus hire directory or bus rental companies for weddings, corporate travels, family outings, sightseeing tours, school trips, airport transfers, and more. However, there are also certain essential things to consider when hiring a bus. One of them is bus hire excess. If the bus gets stolen or damaged under your custody, you have to pay an excess amount to the bus hire agency.
Table of Contents
What is Bus Hire Access, and when to pay it?
Bus hire excess, also known as damage recovery fee or damage liability fee, is included in a bus rental agreement. It refers to an amount that a renter has to pay to a bus hire company if the bus is stolen or damaged during the rental period.
The damage can be anything, such as window breakage, seat damage, wheels, scratches on the vehicles, or more. However, the excess amount varies according to the vehicle type, country, and rental company policy. Many people want to reduce the excess amount to save costs. There are many ways through which you can reduce the bus hire excess. Let’s discuss them in detail!
CDW (Collision Damage Waiver)
Collision Damage Waiver (CDW) helps reduce bus hire excess amount if it is damaged or stolen while renting it. Many bus rental companies in Europe offers to help renter to save costs.
When renting a bus in Europe, you have the option to add collision damage waiver (CDW) insurance, which limits your financial liability in the event that the rental vehicle sustains damage in an accident. If your rental bus is damaged in an accident, a CDW will pay for the repairs as well as any lost rental revenue for the rental company.
A CDW does have exclusions as it only covers the vehicle’s exterior and leaves out other parts of the vehicle.
However, CDW includes a certain amount of excess or deductible that you must pay before it covers the remaining cost of the repair, in addition to having limited coverage.
LDW (Loss Damage Waiver)
A loss damage waiver, often known as LDW, merely combines a collision damage waiver (CDW) and theft protection (TP), covering the cost of both body damage and theft of a bus. However, LDW usually covers bus theft, collision damage, vandalism damage, fire damage, or any damage caused due to natural factors.
Some bus hire companies solely provide an LDW without CDW. While it varies by company and other aspects. LDW also has an excess or deductible that must be paid if you get into an accident while driving your rental bus.
Bus Hire Excess Insurance
Another reliable and affordable way to reduce bus hire excess amount is excess insurance. The main advantage is that bus rental excess insurance packages will offer coverage for the sections of the automobile that are most susceptible to damage, such as the wheels, tyres, windscreen, roof, and undercarriage. Even if you purchase additional waivers, these are typically not covered by the automobile rental company’s own insurance.
Other potential disasters, including losing the vehicle keys or inadvertently over fueling the automobile, may also be covered by policies. By taking bus hire excess insurance, you can get peace of mind while enjoying your trip fully.
There are many companies offering excess insurance services. However, you must read the terms of conditions of every service provider to choose the best insurance policy. It is expensive to buy an excess insurance directly from a bus rental company, so you must consider third parties in this regard.
What is the cost of Rental Bus Excess Insurance?
Bus hire excess insurance cost varies according to your location, type of insurance, and the company from which you are buying it. Taking bus hire excess insurance from third parties is recommended instead of the bus rental companies to save cost.
You can compare quotes, prices, and policies of various insurance companies to choose the rental bus excess insurance cost that best suit your requirements. By taking an appropriate bus excess insurance, you can significantly reduce the excess amount.
Conclusion
Renting a bus hire excess insurance can save you money if something goes wrong and needs to be fixed with the vehicle during the rental period. Spending money up in advance on excess coverage, LDW, or CDW makes sense under certain circumstances. The price of damage is efficiently kept to a bearable level by these policies.
