Excess Refund
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Excess Refund (Excess Refund Policy/Excess Refund Cover) is often seen in the car rental industry. It is just another type of insurance provided by many car rental companies. In most countries an Excess will apply in the event of an accident or theft of a rental vehicle. The Excess Refund Cover will cover this Excess which means Excess Refund Cover holders will get refund even if they have been charged this Excess by car rental supplier.
Normally, Excess Refund Cover holders have to complete an accident report form and/or a police report on returning their rental car, and then forward a copy of these to their car rental supplier within certain days of the accident.
