The study found:
- Wide discrepancy in car hire costs e.g. Sixt is almost twice the cost of Budget for the same week's car hire
- Excess cover adding 62% to bill - The rental companies charge an average of £17 a day for car hire excess insurance, with Hertz charging an eye watering £23. This adds an average of 62% to the cost of hiring a car.
- Added extras can double rental price - e.g. Just adding an extra driver, renting a car seat and purchasing excess insurance from the rental desk can double the price of the rental, and if the extra driver is young, you could be looking at £150 for them to be allowed to drive. The study also includes detailed figures on:
- The price difference when hiring in Milan v Nice v Barcelona
- The prices for three main types of vehicles, including compact, premium and people carriers
Excess car hire insurance from iCarhireinsurance.com costs from only £2.99 a day or £39.99 for an annual policy, a saving of 82%. It includes cover for vulnerable parts of the vehicle, which are frequently excluded by the rental companies' policies, and we don't charge extra for young or older drivers.
Table 1: Excess Insurance cost for UK resident renting a VW Golf class car in Milan (Milan Airport) for a week's rental from 27.10.2012 - 03.11.2012 and dropping off at the same location
Excess Insurance / waiver costs
Cost of excess waiver per day
Rental Only Cost
Combined cost of rental and excess waiver
Excess waiver as a % of the cost of rental
- Therefore average daily excess from the rental companies sampled is £16.78.
- This compares with iCarhireinsurance.com excess insurance at £2.99 a day, which gives a 82% saving.
Table 2: The Cost of Added Extras for UK resident renting a VW Golf class car in Milan (Milan Airport) for a week's rental from 27.10.2012 - 03.11.2012 and dropping off at the same location
*Hertz Winter Gear Hire is only available at certain times of year and prices vary by branch.