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Monday, 25 June 2012 21:20

Sunday Mirror Uses iCarhireinsurance.com Research

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Yesterday's (24 June 2012) Sunday Mirror used iCarhireinsurance.com research in its feature, 'Hire... or lower. How to cut car-hire costs'.

Written by money expert Melanie Wright, and in which she recommends buying one of our car hire excess policies, here it is below:

 

Hiring a car on holiday can give you freedom from your hotel or the excursion coach.

But before you hand over your credit card, make sure you read the small print carefully.

Car rental companies often ­impose sneaky charges which can run into hundreds of pounds.

One of the biggest things to watch out for is the excess you'll have to pay if you're involved in an ­accident.

As our table below shows these can top £1,000.

Most companies will allow you to cut the excess to zero by paying a daily "excess waiver" charge... but this can bump up the cost of your rental, even on a short break.

Research by iCarhireinsurance.com found that the five leading car hire companies charged an average of £15 a day for the waiver, which can add around 40 per cent to the rental cost.

One alternative is to buy a ­policy from an independent excess-waiver provider. These tend to provide more comprehensive cover at a much lower cost.

Table 1: Excess Insurance cost for UK resident renting a VW Golf class car in Barcelona (Barcelona Airport) for a three day rental from 01.06.2012 - 04.06.2012 and dropping off at the same location

 

 

Excess

Excess Insurance / waiver costs

Cost of excess waiver per day

Rental Only Cost

Combined cost of rental and excess waiver

Excess                waiver  costs as     a    % of the cost    of rental

Avis

£610

£42.48

£14.16

£105

£147.48

40%

Budget

£1322

£21.90

£7.30

£63.30

£85.20

34%

Europcar

£645

£53.97

£17.99

£127.97

£181.91

42%

Hertz

£630

£61.77

£20.59

£142.91

£204.68

43%

Sixt

£280

£42.04

£14.01

£84.10

£126.14

49%

 

AVERAGE COST

£706

£44.43

£14.81

£104.65

£149.08

42%

http://www.mirror.co.uk/money/personal-finance/hire-or-lower-how-to-cut-car-hire-907815

 

 

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Excess EuropeExess Europe
Full Excess Protection
Excess WorldwideExess Europe
Full Excess Protection
USA and CanadaExcess Europe
Excess, CDW/LDW
Worldwide PlusExess Europe
Excess, CDW/LDW

Disclaimer

All prices within this section were correct at time of publication.