Two Latvian companies — Booking Group Corporation, which owns one of the world’s most popular car rental booking platforms, EconomyBookings.com, and insurance company BALTA — have created an innovative service for travelers worldwide. The new service — car rental excess insurance — is offered under the Renasco Insurance Tech brand and is already available to customers in 14 countries. It will soon be available in 30 countries across the European Economic Area.
The goal of the Renasco Insurance Tech brand is ambitious — to change the rules of the game by offering travelers modern, simple, and digitally integrated insurance solutions.
Car rental excess insurance helps protect travelers from significant unexpected expenses during a trip in the event of an incident involving a rental car, such as a scratch, collision, or theft. In such cases, rental companies typically apply an excess of between EUR 1,500 and EUR 3,000, which the customer must cover out of pocket.
The car rental excess insurance offered by Renasco removes this risk from the customer, allowing travelers to enjoy peace of mind without worrying about unforeseen expenses. The service is fully integrated into the booking process, making the purchase of insurance convenient, clear, and accessible. The launch of a dedicated Renasco website is planned in the near future.
Alens Baibekovs, Chairman of the Board of Booking Group Corporation:
“Renasco Insurance Tech’s strength lies in modern digital solutions, international scale, insurance expertise, and an outstanding customer experience that meets the needs of today’s travelers. This partnership not only strengthens our presence in the international market but also positions Latvia as a hub for innovation.”
A long-term partnership with a vision for the future
Companies’ representatives note that car rental excess insurance is only the first step in a long-term strategic partnership. In the coming years, the range of offered services is expected to expand, with a continued focus on delivering an exceptional customer experience throughout both the purchase journey and post-sale support.
Ian Kennedy, Chairman of the Board of BALTA:
“Two leaders of the Latvian market have joined forces to create a new level of customer experience worldwide, while also strengthening Latvia’s growing reputation for innovation. I am confident that car rental excess insurance is only the beginning of our collaboration, which fully aligns with BALTA’s mission — to offer simple and innovative solutions that are accessible to everyone.”
Both companies were ranked among Latvia’s Top 101 Most Valuable Companies in 2025, demonstrating growth compared to 2024 and securing 44th and 89th places respectively.
