In this article, you'll learn what excess insurance is, how Travellers can add it to their booking, and how it impacts your bookings as a vehicle Owner.
Rental Cover Excess Insurance
Excess insurance is an optional extra insurance product that travellers may choose to add to their booking and is provided by one of our partners, Rental Cover. Excess insurance does not cover the Traveller to drive your vehicle; instead, it protects the security deposit and lowers the Traveller's liability in the event of damages.
When a Traveller makes a booking with you, they must pay a security deposit (usually between £500 - £2000). They may choose to pay a small fee per day to purchase Rental Cover Excess Insurance, which lowers the security deposit amount as well as their liability to £400 per incident of damage. Excess insurance can be purchased by the Traveller via the Goboony booking page up to 24 hours prior to departure.
Excess insurance provides an added layer of protection for both the Traveller and the vehicle Owner. This makes booking a motorhome affordable for more people and increases bookings for vehicle Owners whilst still offering the same financial protection in the event of damage.
What does Excess Insurance cover?
Rental Cover Excess Insurance covers damages that cost more than £400 to repair. Travellers must pay the first £400 towards any damage repair. The remaining amount will be paid by Rental Cover up to a maximum of the security deposit amount in place on your vehicle advert.
Excess insurance does not cover additional costs such as late return fees, fuel/gas charges, toll charges, parking/low emission zone fines, cleaning costs or damages that cost less than £400 to repair. The Traveller is still responsible for paying in full for additional costs and incidents of damage that cost less than £400 to repair.