Greater than a 3rd (37%) of rent automobile drivers are unaware that they’re accountable for the surplus (the primary a part of any declare) if their automobile is broken or stolen, which might be as much as £2,000, even when it’s not their fault.
Extra waiver might be purchased to guard drivers from this, nevertheless Opinium analysis of over 1,000 automobile hirers, commissioned by iCarhireinsurance.com, a number one supplier of automobile rent extra insurance coverage, finds that two fifths (41%) don’t know what extra waiver is and 43% say it’s complicated and obscure.
Six in ten automobile hirers (59%) are additionally uncertain or mistakenly imagine that extra cowl needs to be purchased from the rental firm. In accordance to a price comparability examine by iCarhireinsurance.com, travellers might be losing over £200 every week not shopping for extra insurance coverage from an unbiased insurance coverage firm.
For instance, hiring a medium compact automobile, e.g., a VW Golf, in Malaga this summer season from 29 July to five August 2023, the examine finds the six rental firms (i.e, Sixt, Hertz, Avis, Price range, Enterprise and Europcar) surveyed charged on common £259 for extra cowl (i.e., £201 for tremendous injury waiver and £58 for tyre and windscreen waiver cowl).
Every week’s coverage from iCarhireinsurance.com protecting injury, theft, and tyres and windscreen cowl is £33.15 or an annual European coverage is from £41.99.
If a automobile hirer doesn’t purchase extra cowl from the rental firm, or they’ve a automobile rent extra insurance coverage coverage already, then the rental firm will maintain the surplus quantity on the driving force’s bank card. Over half of rent automobile drivers (56%) are unaware that rental firm is inside their rights to do that.
Drivers want to make sure they’ve sufficient credit score on their bank card to permit rental firms to carry the surplus on this manner if they’re shopping for cowl from one other supplier, because the survey discovered that just about a 3rd (30%) of automobile hirers purchased extra waiver from the rental firm relatively than allow them to maintain the surplus quantity on their bank card.
Ernesto Suarez, Founder and CEO of iCarhireinsurance stated: “Nearly all of individuals rent a automobile with out something ever going mistaken, however when it does you danger being accountable for a whole lot, if not hundreds of kilos, so it pays to have extra cowl.
“Do your analysis and contemplate taking a look at unbiased suppliers which generally is a far more cost-effective possibility than the rental firm’s waiver insurance policies. Then don’t overlook to take a bank card with you to cowl the surplus deposit throughout the rent.”