What is the security deposit for?
A deposit is intended to secure certain obligations under the rental agreement. Depending on the payment method, it may be handled as a hold or another type of guarantee. The exact amount and process should be confirmed before handover.
The excess is not the same as the deposit
The insurance excess is generally the amount that may remain payable by the renter in certain insured situations. It should not be confused with the deposit requested as security.
- Ask for the deposit amount
- Check the insurance excess
- Read exclusions and cover conditions
What does the insurance cover?
Cover depends on the contract, vehicle and applicable protections. Check covered damage, exclusions, accident procedure and required documents before accepting the rental.
Good checks before vehicle handover
Read the summary and terms, inspect the vehicle with the agency and keep useful documents. Ask for written clarification if any payment, deposit or cover point is unclear.