Press Release - Car Rental Insurance Product Changes for 2016
Car Rental Insurance Product Changes for 2016
March, 2016
[London] Status Global Insurance (SGI) has announced important changes to the Car Rental Insurance product they provide in partnership with Voyager Insurance. The new changes for 2016 address consumer demand for the option of different levels of cover.
The first, and perhaps most obvious change, is that the product will now be called ‘Car Rental Insurance’ as opposed to the previous name “Car Hire Excess Insurance”. The new name provides a more accurate description of the product, as the ‘Deluxe’ level of cover offers a number of great benefits in addition to excess reimbursement.
Having 2 levels of cover available is the other significant product change. Previously the product only offered one option, but now there are two distinct levels of cover to choose between based on your needs and budget. The ‘Deluxe’ level of cover is almost identical to the cover offered on the previous product with the addition of including ‘Car Club Membership’ at no additional cost.
The ‘Standard’ level of cover only covers excess reimbursement and none of the additional benefits offered on the ‘Deluxe’ level. And both levels of cover now include an excess reimbursement benefit allocation for ‘Admin and Handling Charges’ which was not available previously.
“Offering two distinct levels of cover will help meet different consumer demands for this type of product,” Says Paul O’Sullivan, Director at SGI, “Some people want a value option for a low price but protection from the big financial risk, and other customers are looking for the additional benefits and cover options available on the ‘Deluxe’ level – and now this policy can meet the demand for both.”
About Status Global Insurance
Status Global Insurance is a trading name of Status Insurance Management Ltd, which has been operating for 30 years and is a Lloyd’s European coverholder. Status Global Insurance offers a wide range of insurance products to both UK and EU residents, from travel and private medical insurance plans through to insuring homes or holiday villas in Spain, Portugal, Cyprus and Malta. Status Global Insurance prides itself on offering exceptional wholesale and retail insurance products and services to both local nationals and expatriates in the UK and EEA. For more information please visit the new Status Global Insurance website: www.statusglobalinsurance.com
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