Rental Vehicle Excess| Allianz New Zealand

Q: Does this cover include motorcycles or commercial vehicles?

No, Rental Vehicle Excess cover doesn't include motorcycle, mopeds, or commercial vehicles.

What is Rental Vehicle Excess Cover?

Renting a car while travelling can be a great way to explore. However, it could leave you out-of-pocket if something goes wrong.

Allianz Rental Vehicle Excess Cover provides cover towards the excess you are liable to pay if your hire car is damaged or stolen, up to your policy limit.

A road trip should be about the adventure, not the worry. That’s why Rental Vehicle Excess Cover is included automatically as a standard benefit in all Allianz Comprehensive, Domestic and Multi-trip Travel Insurance plans.

What does our Rental Vehicle Excess cover?

This is a limited summary of some of our Rental Vehicle Excess coverage only. Please read the Policy Wording for all the terms, conditions, exclusions, limits and applicable sub-limits that may apply.

Benefits

Rental vehicle accident or theft

If your rental vehicle is involved in an accident while it’s being driven by you and you're the nominated driver, or it’s damaged or stolen while in your custody, we’ll pay you the lesser of (up to your benefit limit)¹:

the amount specified that you’re liable to pay under the rental vehicle agreement, or
the property damage for which you’re liable.

Return of rental vehicle due to incapacity

If you’re diagnosed by a treating medical adviser as unfit to return your rental vehicle to the nearest depot, we’ll pay the cost of returning the vehicle (up to the applicable benefit limit)¹.

Note: This cover only applies if:

you hire a rental vehicle from a rental company or agency;
you’re a nominated driver on the rental vehicle agreement; and
the rental vehicle agreement specifies a maximum amount that you must pay if the rental vehicle is damaged or stolen.

It's important to note that coverage and benefits limits can vary depending on the policy you choose. Therefore, it's important for you to consider the Policy Wording before making any decisions about your travel insurance. 

Conditions apply

Terms, conditions, limits, sub-limits and exclusions apply, and these are set out in the Policy Wording.

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Frequently Asked Questions

1. Do I still need to take the rental company's vehicle insurance?

Yes, you will still need to comply with the rental company’s vehicle insurance terms and conditions.

Rental Vehicle Excess cover is provided as a standard benefit with some Allianz Travel Insurance policies. It's an alternative to excess reduction products that car rental companies sell for an additional cost.

Allianz Comprehensive, Multi trip and Domestic Travel Insurance plans cover Rental Vehicle Excess as a standard benefit, which is automatically included as part of your cover.

2. What is the maximum cover amount?

The benefit limit depends on your chosen plan and will be outlined in your Certificate of Insurance.

Single Plan: Up to $6,000 in total. This is the maximum amount shared between you and any covered dependants.

Duo Plan: Up to $6,000 per insured person (dependants are not covered under Duo plans).

Family Plan: Up to $6,000 in total. This is the maximum amount shared across everyone covered under the plan.

Please read the Policy Wording for full details.

3. Does it cover damage to tyres, windscreens, or underbody?

Yes, provided these are part of the claimable excess under your rental agreement.

4. Can I claim if someone else was driving?

Yes, provided the driver is listed on your travel insurance Certificate of Insurance, is a nominated driver on the rental agreement and legally allowed to drive the vehicle.

5. Does this cover include motorcycles or commercial vehicles?

No, Rental Vehicle Excess Cover doesn't include motorcycle, mopeds, or commercial vehicles.

6. Is Rental Vehicle Excess Cover included automatically?

Yes, Rental Vehicle Excess Cover is a standard benefit, included in Allianz Comprehensive, Domestic or Multi-trip plans.

Rental Vehicle Excess Cover is not included with our Basic plan.

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Allianz Travel Insurance is issued and managed by AWP Services New Zealand Limited trading as Allianz Partners (NZBN 9429035270157) under binder with and on behalf of Mitsui Sumitomo Insurance Company, Limited (NZBN 9429039809810, FSP Number 20661) (Incorporated in Japan) as the underwriter.

You should read the policy wording and consider obtaining independent legal or financial advice before making any decisions about this insurance. Terms, conditions, limits, sub-limits and exclusions apply.

Mitsui Sumitomo Insurance Company, Limited – Financial Strength Rating

Mitsui Sumitomo Insurance Company, Limited has a financial strength rating of A+ (Stable) given by S&P Global Ratings. The S&P Global rating scale* in summary form is:

AAA	Extremely Strong	BB	Marginal	R	Under Regulatory Supervision
AA	Very Strong	B	Weak	SD	Selective Default
A	Strong	CCC	Very Weak	D	Default
BBB	Good	CC	Extremely Weak	NR	Not Rated

The rating may be modified by the addition of a plus (+) or minus (-) sign to show relative standings within the major rating categories.

Further information on the S&P Global ratings is available here.

Further information on Mitsui Sumitomo Insurance Company, Limited is available here.