Car Hire Insurance is Essential in Barbados
Whether you are coming to Barbados on holiday or for business, the chances are you will be hiring a car to help you get around the island. Before signing on the dotted line of any vehicle insurance form, you need examine the affordable options that are available on the automobile rental insurance.
According to TotallyBarbados, with the need for insurance in Barbados, there has been a substantial rise in the number of policies written by companies. The asset portfolio has increased from approximately $34 million in the 1970’s to well over $3 billion today. As a result we can assure you of the reasonable and most affordable policies!
Read the Small Print and Avoid the Pitfalls
Read on and you will discover the pitfalls and traps to avoid, and how to sensibly and safely ensure you have the right vehicle rental insurance cover for the right price.
- You may have offers of free insurance from your bank or other financial institute. These offers may appear attractive, but you must always read the small print. More often than not you will find that you have some form of holiday insurance cover, but it won’t cover you for vehicle hire.
- In Barbados you can insure your hire car on a fully comprehensive basis, but this will not cover the first US$1,750 of any damage. Additional insurance can be purchased to cover this, and this is referred to as collision damage insurance. It is possible that your credit card company or bank have offered you CDW insurance, or collision damage waiver insurance that will cover you for this first US$1,750. Again we cannot stress how important it is to double check you are covered for Barbados.
- You may have automobile insurance at home which covers you for driving any vehicle. Experience tells us that the insurance will not cover you for driving a rental car abroad.
- You may have taken out a very comprehensive holiday insurance policy to cover everything when travelling in a foreign country. However holiday insurance, even for injury while in a vehicle, will not cover you for driving a hire car.
We do not believe in waiting for you to have an accident before asking you to read the small print. So what is the best advice regarding car hire insurance in Barbados?
Make Sure You Get the Correct Cover
- Comprehensive car insurance is necessary for leasing a car as not every driver on the island is insured. If you are not at fault when an accident occurs, but the other driver has no insurance, a claim will be made through the insurance company providing your car hire insurance.
- Comprehensive insurance will usually cover you for all but the first US$1,750 of any claim. You should take out what is called collision damage waiver insurance. That will cover you for all but usually the first US$125.00 of the US$1,750 excess. The typical cost for CDW insurance is US$125.00
- You can opt not to take out CDW insurance, so remember that you will be responsible if your car is damaged by someone else and they do not have insurance cover. You will also be responsible for any minor damage to wheel rims and bodywork, as well as the interior.
- If you do have CDW insurance that is provided by someone not recommended by your insurance company, remember that you will have to pay for any excess damage and then reclaim it from your own insurance company.
Of course if you want complete peace of mind when you arrive in Barbados, then please do consider in choosing one of the options available for insurance coverage when renting a car.
Drive Barbados can offer you this service with your vehicle rental when visiting the island