Car Hire Excess Insurance Confusion
LONDON, UNITED KINGDOM -- (Marketwired) -- 10/30/13 -- Only 11% of
car hire respondents in a new YouGov survey knew that if their hire
car is damaged they could be liable for up to GBP 2000 (e.g. hiring
in Faro in October), even if it's not their fault, if they haven't
taken out additional excess protection cover.
If a hire car is stolen or damaged in any way the hirer has to pay
for the first part of the cost, i.e., up to the excess amount for the
repair, unless they take out additional excess protection cover.
The new survey, commissioned by iCarhireinsurance.com, a leading
supplier of car hire excess insurance, also revealed that only around
one in five people (18%) realised that some excess policies also do
not include possible damage to the tyres and windscreen - amongst the
most vulnerable parts of a vehicle.
"Excess insurance for car hire is confusing for many travellers,"
said Ernesto Suarez, CEO and founder of iCarhireinsurance.com. "Our
research shows a worrying lack of knowledge. When a small scratch can
cost hundreds to fix, it's important to get excess insurance so
you're not out of pocket."
Buying excess insurance direct from the car hire company is expensive
and the policies offered are generally less comprehensive than buying
it in advance from a specialist insurance provider.
iCarhireinsurance.com found that out of three autumn break
destinations researched(i) (i.e., Faro, Tenerife and Nice), Faro was
the most expensive place to purchase car hire insurance from the
rental desk with a week's excess policy costing up to GBP 199 or GBP
28 a day - this is over nine times the cost of an
iCarhireinsurance.com policy at GBP 21 for the week (at GBP 2.99 a
Travellers should also be aware that 60% of the rental company excess
policies researched do not include damage to the hire car's tyres or
windscreen. If additional policies for this cover are available from
the rental desk they can add more than GBP 100 to the cost of a
week's car hire. Many companies do not promote the price of this
policy until a customer reaches the rental desk. This level of
protection is already included in an iCarhireinsurance.com policy.
(i)All figures, unless otherwise stated, are from YouGov Plc. Total
online sample size 2,187 adults, of which 901 have ever hired a car.
Fieldwork between 1st May - 2nd May 2013.
07850 470 123
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