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Wednesday, 26 September 2012 11:52

Excess Insurance Can Add Over 60% to Car Hire Costs: See Car Hire Comparison Table

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iCarhireinsurance.com has launched its latest quarterly research report which compares the prices of the four leading car hire companies to reveal the true cost of car hire, including the cost of excess insurance and other added extras (see Tables 1 & 2 pasted and attached).

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.

OCTOBER 2012

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

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

Avis

£688.50

£109.14

£13.64

£232.43

£341.57

47%

Budget

£980.10

£123.49

£15.44

£151.39

£274.88

82%

Hertz

£891

£184.48

£23.06

£236.12

£420.60

78%

Sixt

£1170

£119.77

£14.97

£292.09

£411.86

41%

AVERAGE COST

£932.40

£134.22

£16.78

£228

£362.23

62%

 

  • 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

 

Avis

Budget

Hertz

Sixt

Average

EXCESS INSURANCE

£109.14

£123.49

£184.48

£119.77

£134.22

EXTRA DRIVER

£48.02

£28.25

£48.02

£48.02

£43.08

YOUNG DRIVER

£93.72

£122.47

£113.17

 

NA

£109.79

CAR SEAT

£41.16

£59.18

£76.06

£28.49

£51.22

WINTER EQUIPMENT

£41.16

£32.25

NA*

£28.49

£33.97

SAT NAV

£82.32

£82.32

£76.06

Free

£80.23

*Hertz Winter Gear Hire is only available at certain times of year and prices vary by branch.

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

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