Published at: 19-09-2023 - Latest update: 18-01-2024
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Car Rental Insurance Can Help You Avoid Surprises

Rental car insurance protects you from financial loss in the event of an accident or theft. Car rental companies in Crete offer a variety of insurance options, including personal accident insurance, collision damage waiver (CDW), full damage waiver, third-party insurance (TPI), fire protection (FPI). The specific coverage and restrictions of each policy may vary, so it is important to read the terms and conditions carefully.

The cost of car rental insurance in Crete ranges from €10 to €20 per day for basic coverage, and up to €30 to €40 per day for more comprehensive coverage.

Before you purchase a rental car insurance, you should consider whether your current auto insurance policy or credit card offer coverage for rental cars and your driving habits, the road conditions where you are going, and the value of the rental car when choosing the level of coverage that is right for you. Moreover, you would better compare the different insurance plans offered by the rental company and independent insurance vendors to get the most comprehensive protection at the best price. Understanding your financial responsibility in the event of an accident, including the coverage limits, deductibles, and exclusions of each policy will proactively pay out in the event of an accident. Read the rental agreement carefully so that you are familiar with the terms and conditions of the insurance coverage, including the process for reporting accidents and filing claims.

Explore Crete with a rental car from 13€ per day

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Taking the time to research and understand your rental car insurance options will help you make an informed decision and protect yourself from unpleasant surprises in your trip to Crete.

Here are some additional tips for choosing rental car insurance:

  • Get quotes from multiple companies to compare prices and coverage.
  • Ask about discounts for things like age, good driving record, or membership in certain organizations.
  • Make sure you understand the terms and conditions of the policy, especially the deductible and any exclusions.
  • Read the rental agreement carefully.

By following these tips, you can choose the right rental car insurance for your needs and protect yourself from financial loss in the event of an accident or theft.

What Car Rental Insurance Coverage Options Exist in Crete?

In Crete, there is a range of car rental insurance coverage options to choose from. These commonly available options include Personal Accident Insurance (PAI), Collision Damage Waiver (CDW), Full Damage Waiver (FDW), Third-Party Insurance (TPI), Theft Waiver (TW), Fire Protection (FP).

Personal Accident Insurance (PAI) provides coverage for medical expenses and death benefits for both the driver and passengers in the rented vehicle in the event of an accident. Collision Damage Waiver (CDW) protects the renter by reducing the renter's financial responsibility in case of damage to the rental vehicle resulting from a collision. Full Damage Waiver typically encompasses CDW but also extends coverage to damages caused by theft, vandalism, or natural disasters. However, the renter is still responsible for a deductible amount.

Third-Party Insurance covers damages or injuries sustained by a third party. In the event of an accident involving the rented car, if the rental car is stolen, the renter's liability is reduced by the amount of the Theft Waiver. It's important to note that there may still be a deductible that the renter has to pay. The rental company will cover the costs of repairs related to fire damage to the car. Tyre insurance is crucial as it addresses the expensive damage to the rental car's tires, which may not always be covered by standard collision and comprehensive policies.

The above options are typically offered either as part of a package or as standalone choices. Furthermore, the specifics of coverage and limitations can vary greatly based on the rental company and their particular insurance policy. Therefore, it is highly advisable to thoroughly research and examine the provisions and requirements of each available rental insurance policy.

What Isn't Covered by Insurance?

As a rule of thumb, insurance policies in Crete, Greece, can vary depending on the provider and the specific type of coverage. Most of the times, however, there are some common exclusions and limitations to the coverage that companies follow.

  1. Driving under the influence of alcohol or drugs: Insurance typically does not cover any damages or accidents that occur while the driver is under the influence of drugs or alcohol.
  2. Negligent or reckless driving: Damages resulting from reckless or negligent driving are generally not covered by insurance.
  3. Unapproved drivers: If someone not authorized by the rental agreement drives the rental car and causes damage or gets into an accident, the insurance typically does not cover these damages.
  4. Off-road driving: Insurance is usually not applicable for damages sustained while driving off-road or on unpaved roads.
  5. Personal belongings: Loss or damage to personal belongings that are stolen or lost from the rental car is typically not covered by insurance.

Is Car Rental Insurance Necessary When Renting a Car in Crete?

While not legally required, it is highly recommended to obtain car rental insurance when renting a vehicle on the island of Crete, Greece. The majority of car rental agencies in Crete provide various insurance coverage options, including the basic coverage and options like collision damage waiver (CDW) and theft protection.

The standard insurance typically includes third-party liability coverage, which handles medical expenses and repairs in case of an accident that damages another person or their property. However, it often does not cover damages to the rental vehicle itself. CDW, as supplementary insurance, covers additional damages to the rental car, and theft protection covers the cost of replacing the vehicle if it's stolen.

To ensure proper protection, it's crucial to carefully review the terms and conditions of the insurance coverage offered by the rental company. Additionally, individuals should check with their own insurance provider to determine if their existing policy covers rental cars, as this can provide extra security and potentially save on insurance costs in the long run.

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Eurodollar Offers a Comprehensive Car Rental Insurance

What Insurance Policy Comes with a Car Rental from Eurodollar?

Eurodollar offers a highly transparent and all-encompassing insurance package when you rent a vehicle with us. We want to ensure that your experience in renting a car in Crete is unique and unforgettable and that you will hopefully not be burdened with unpleasant surprises like hidden costs or surprises when you pick up your car. Our Insurance package provides comprehensive protection throughout the whole of your rental duration.

With Eurodollar Insurance package, you receive:

  1. Collision Damage Waiver (CDW): This coverage includes zero excess, meaning you won't have to pay any additional fees in case of an accident.
  2. Theft Protection (TP): Similarly, TP comes with zero excess, ensuring you're not responsible for extra costs in the event of theft.
  3. Personal Accident Insurance (PAI): In case of an accident, PAI provides coverage for both passengers and the driver, offering up to €1,000,000 for passengers and €15,000 for the driver.
  4. Public Liability Insurance (PL): Your liability for death and bodily injuries is covered up to €1,000,000 with our PL coverage.

We want to make your rental experience hassle-free. With Eurodollar, there's no need for a credit card deposit during pickup, and we won't ask you to pay extra for additional insurances. Choose Eurodollar for a car rental experience you can trust.

Educational / Liability Notice

This article provides general informational content and should not be considered as legal, financial, or professional advice in any way. It offers a basic understanding of car rental insurance and its terms but should not be viewed as comprehensive or personalized guidance. Prior to making any decisions or agreements related to your car rental insurance, it is advisable to conduct your own research and seek guidance from a qualified professional. By utilizing the information presented here, you agree to indemnify the author and publisher against any errors, omissions, or reliance on the content. It is your responsibility to stay informed about current laws and regulations relevant to your specific circumstances.