Car Hire Excess Insurance, does it work?

[Mikeyboy]

Going away next week and will have a car on hire for two weeks and as I'm driving around Spain think there is a high chance something is going to happen to the car, which could prove pretty expensive.
The excess waivers they offer at pick up are usually pretty steep and have a lot of clauses to let them out and I was considering dealing with it another way.

Do these third party excess insurance covers actually work?

for example this one

thanks in advance

[A2Z]

I did it for the first time this year in Malta. I din't have to claim so I can't say if it works or not. The way I understood it was if the car gets damaged you pay the excess to the hire company (£500 or so). Then take your paperwork to your insurer and claim back the excess.

I went with these

http://www.carhire-excess-insurance.com