There are two types of insurance in Cyprus - “TPI” (Third Party Insurance) and “FCI” (Fully Comprehensive Insurance).
"TPI" - compulsory civil liability insurance
"FCI" - full insurance with a deductible.
What is a deductible
This is the extent of the lessee's responsibility in the event of an accident or other damage to the vehicle. The size of the deductible differs in different companies and, what is important, some unscrupulous rental companies hide information about it until the moment the contract is signed. In addition, the amount of money in your bank account is blocked or it is necessary to leave this amount as a cash deposit. In our company, this amount is mentioned only in the contract and no pledge / deposit is required.
In fact, it works this way: if there is damage to the vehicle, the level of damage is assessed and the lessee is obliged to compensate for the damage, but no more than the amount of the deductible (specified in the contract). The rest of the amount is covered by the insurance company.
Rented Nissan Note with full insurance and with a deductible of 500 €.
The driver pays 500 €. The same car with full insurance and 0 deductible - the driver pays nothing.
Toyota Corola with full insurance and 500 € deductible. The lessee pays the deductible specified in the contract, i.e. 500 €. The same car with full insurance and 0 deductible - the driver pays nothing.
Suzuki Alto with full insurance and 500 € deductible.
The amount of the repair turned out to be less than the deductible, so only 200 € is paid.
Toyota Aygo with full insurance without a deductible. The driver does not pay this amount.
We offer our clients the option of "zero excess", which covers all insurance claims, including damage to windshield, tires and mirrors.
Frequently Asked Questions:
What is the size of the deductible?
It depends on the class of the car.
Is the deductible taken as a pledge?
No, you do not need to pay it to rent a car. You only pay the cost of car rental.
Do you need a credit card to block the amount of the deductible?
No, you do not need a credit or debit card to complete the transaction. They will only be needed if this is a more convenient payment method for you than cash.
What do you advise? Is it worth paying extra for a zero deductible?
In Cyprus, the intensity of traffic flows is much lower than in metropolitan areas, so the risk of accidents is much lower, but nevertheless, accidents do happen, and a zero deductible reduces your risks to zero.
I have a lot of driving experience, I don't need it.
Even with a long experience of driving with left-hand traffic, the risks of damage to the car by unidentified third parties remain, for example, in the parking lot, as well as, for example, falling objects (branches, trees), so with a zero deductible you will feel more confident.
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Still have questions?
We will be happy to answer them.