Friday, April 07, 2006

Additional Cover for Renting a car overseas

NTUC Income is providing an extended benefit for its motor policyholders who has to drive a rented car overseas. This extension will covers the additional third party liability for death, bodily injury or damage to property over the limited cover provided by the rental car company. The additional premium charged by NTUC Income for a similar coverage is likely to be lower than the market.

This cover is for US$1 million and covers the policyholder against third party liability that exceeds the basic cover provided by the car rental company. The premium rate that is charged by NTUC Income will be 50% of the normal market rate and is available only to a policyholder who has a No Claim Discount of 20% or more.

If the policyholder does not meet the requirement, the policyholder can purchase the cover from the overseas insurer of the rental company.


Victor Foo said...

Great move.

However, does the extended benefit restricted to solely those countries where the 1949 Convention International Driving Permit is recognised ?

mighty mouse said...

Great News for travellers indeed.
I am going to US in a few weeks time and I will certainly take up this insurance in addition to my Annual Travel Policy.

Anyone who has rented cars in the US will know that it is ridiculous to pay insurance rates that come to 50% of the car rental rate.

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