What does the excess (bond) mean?


 
Spaceships Crew
Last Updated: 9 months ago

Excess is the amount of money that you're liable for when something happens to your campervan. It's the part of an insurance claim that you as the insured person need to pay.

Bond is the amount of money that we freeze (reserve) on your credit or debit card in case of an accident or damages. It isn't processed as payment so we don't take it from your card, we just freeze it. It means that the bond amount needs to be available on your card and will be frozen 1 day before pick-up for the duration of your trip.

The bond is used for the repair costs in case of damages or an accident. This means that in case the vehicle is damaged in any form or way or is involved in an accident, you are liable (pay) for the damages up to but not limited to the bond amount of the selected insurance level. 

Credit card or debit card details must be on all rental agreements and must be the credit card of the main hirer unless prior arrangements have been made. Where a credit or debit card is not available, a cash bond will be held by Spaceships for 21 days following the hire to cover any infringement fees. You can choose the Stress-Free Insurance Option or Partial Insurance to reduce your bond.


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