What does the Security Deposit / Excess mean?

Modified on Fri, 15 Mar 2024 at 08:47 AM

We freeze a Security Deposit from your bank card within the 24 working hours prior to your pick up time. This amount is relative to the insurance excess of your chosen insurance option that would be due if an insurance claim incident such as an accident, damages or user error breakdown were to occur during your hire. The Security Deposit is:

Bronze Cover = £1,500 for campervans or £2,500 for motorhomes.

Silver Cover = £250 for campervans or £250 for motorhomes.

Gold Cover = No Security Deposit required.

We do not deduct the Security Deposit from the bank card, but instead freeze the funds to deduct in an event of an applicable incident. The Security Deposit will be released when the vehicle is returned provided no incidents have occurred. Bank card details must be on all Rental Agreements and must be in the name of the main hirer unless prior arrangements have been made. 

You have to pay the excess for each insurance claim incident regardless of which party may be at fault. The insurance excess is taken per claim, not per rental. Spaceships will take the excess as soon as the accident or loss occurs/is reported. No insurance excess will be refunded until any claim is fully settled. As part of the finalised claim amount, Spaceships may also charge the daily hire rate per day the vehicle is off the road unable to be rented, as well as any other consequential losses.

At Spaceships, we strive to not be part of the reputation that the industry has with damage/repair charges. We take and send pictures of your vehicle to your email prior to each hire including mileage and fuel to ensure that our customers are not getting charged for damages they have not responsible for.  

As per the terms of your rental agreement, the repair of any damages to your vehicle or any third party vehicle will be charged at cost at the current time. We will invoice you for any damage/repair cost for your own insurance purposes.

Please refer to our terms and conditions for more information regarding insurance.

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