Allianz Car Hire Excess Insurance for Residents in Spain

What is an Excess?

In the context of insurance, the excess—known in other countries as «deductible»—is the total amount of money that the insured must assume to cover the cost of damages caused by an incident, according to the contract previously agreed with the insurance company.

From the stipulated amount, the insurance company is responsible for compensation. The amount charged to the insured can be a percentage of the insured amount or a fixed value. Generally, this amount is deducted from the reimbursement made by the insurer.

In other words, Excess is the amount of any claim that you (the policyholder) must pay. After this amount your insurer will cover the remaining cost.

You can choose to increase your excess at policy inception or renewal in return for a reduction in premium.

The presence of an excess on your policy means that you effectively self-insure for the sum of the excess.

Insurers apply excesses to discourage small claims and to keep the overall cost of insurance down.

What is Car Hire Excess Insurance?

Renting a car can prove to be a very convenient service. However, you have to be wary, as there are some hidden fees that you may not know about such as car hire excess (also known as Collision Damage Waiver). 

Car hire excess insurance (sometimes referred to as Collision Damage Excess Waiver Insurance or CDEW) is a safety net to these hidden fees. More often than not, when taking out a normal car hire insurance policy, it will also include a Collision Damage Waiver Insurance (CDΕW). Whilst this is perfectly fine and true , you should be aware that if the hire car is stolen or damaged, you will more likely than not be held liable to pay the excess.

This excess can range from 500€ to 2000€, potentially leading to significant outlays. To mitigate these unforeseen expenses, Allianz Assistance provides standalone Rental Car Excess Insurance for a worry-free vehicle rental within Spain, Europe and countries bordering the Mediterranean Sea. Our coverage is available for drivers aged over 25 years of age residing in Spain who rent a car in Europe for up to 28 days.

The way «Franquicia Cero» works is fairly straightforward. When taking out a standard car hire insurance policy, your rental company will secure the vehicle excess against your credit card, and will then deduct this fee in the case of an accident/damage. This is the excess that will be reimbursed by Allianz Assistance in the event of a claim.

Having to reach into your pocket for a cost that you haven’t planned on for whatever reason can prove to be extremely frustrating. By taking out a car hire excess insurance policy from Allianz Assistance, you’ll be able to drive your rental car without fear of unwanted costs.

What is Franquicia Cero?

«Franquicia Cero» is the spanish excess reimbursement insurance from Allianz Assistance and can be hired only if you are a legal resident in Spain

Through Franquicia Cero, you can recover your money if you cause damage to the vehicle as a result of a traffic accident, theft, or even scratches caused by vandalism.

What is the maximum reimbursement capital of the Insurance and contracting time?

Throughout 2024, the return insurance will offer you a reimbursement of up to €3,000. Capital that adapts to each case and cannot be decreased or increased.

What is the maximum reimbursement capital of the Car hire Excess Insurance and contracting time?

Throughout 2024, the return insurance will offer you a reimbursement of up to €3,000. Capital that adapts to each case and cannot be decreased or increased.

How can I contract Allianz’s Franquicia Cero?

The insurance is contracted via email or by phone and can be done on the same day. We explain the steps:

Request a quote by completing the following form: Click here. We will ask for the main driver’s date of birth, the start date, the end of the rental, and the destination.

Receive an official quote, with the possibility of downloading the general conditions and the informative note to know the exclusions.

If you agree, following the indications of the quote, you must send us your acceptance and the requested information to issue the policy.

Finally, you will receive the policy sent directly by Allianz Assistance within a maximum of 24 hours.

What characteristics must the rental vehicle have to be insured with the Allianz Car Hire Excess Insurance?

The return insurance is created for private individuals residing in Spain who rent a tourism-type car for vacation or business use. The car cannot be luxurious, motorhome or camperized, nor can vehicles be contracted for public transport of people or goods. Cars for removals, motorcycles, or all-terrain or 4×4 vehicles are not accepted.

Can I insure the Rental Car Excess if I travel outside of Spain?

Yes, Franquicia Cero insurance is available both for Spanish territory and for all countries in Europe and countries whose location borders the Mediterranean Sea.

Can I add more than one driver to the «Allianz Franquicia 0» Car Rental Excess insurance?

In the Allianz policy, several main drivers can be added; however, they must appear nominated in the car rental contract mandatorily.

When should I contract excess reimbursement insurance?

Whenever you rent a car for vacations or a business trip, our recommendation is that you contract the «Franquicia Cero» complement which will allow you to recover your money in case you cause damage to the rental car, this way you will rent with more confidence and be more at ease during your trip.

As a general rule, it must be contracted 24 hours before the rental starts; however, there could be exceptions that must be assessed.

If you have the car in your possession or the rental contract has started, the insurance cannot be contracted.

Do I get any benefit by contracting insurance with NTWRK?

Yes, if you contract Franquicia Cero insurance with us, you will get up to a 10% discount on contracting travel assistance and/or cancellation insurance.

Can I insure off-road vehicles or SUVs with Allianz Rental Car Excess insurance?

YES! It is possible; however, there are some restrictions with respect to off-road vehicles. Allianz does not allow insuring those in segments C, D, E, and F.

If you have any doubts about whether a model is insurable or not, contact us, we will verify it with Allianz directly.

If I live outside of Spain, can I take out the Rental Car Excess or Excess Reimbursement insurance called «Allianz Franquicia Cero?»

No, Allianz’s «Franquicia Cero» insurance can only be contracted by Spanish RESIDENTS.