Most Budget rates in New Zealand include Motor Vehicle Insurance, which covers part of your liability (as long as you comply with the terms of the Budget Rental Agreement) in respect of loss and certain specified damage to the Budget vehicle and / or Third Party Property which occurs through the use of the vehicle.
However, an excess still applies (unless otherwise stipulated) if there is loss or damage to the Budget vehicle or Third Party Property. This is the amount you contribute towards a claim payment if loss or damage is caused to the Budget vehicle and / or Third Party Property.
The excess amount varies depending on age of renter, type of vehicle, rental location, and rate.
The excess in most cases can be reduced by payment of a daily Excess Reduction fee. This is not an insurance, but an optional coverage which reduces your excess liability and gives you additional benefits. You are not obligated to purchase Excess Reduction, however, for peace of mind motoring it is recommended.