The Insurance Daily has just reported that Halo Insurance Services has launched car rental excess insurance.
The underwriting agency, which is backed by Bridges Ventures and Magenta Partners, will focus on niche personal lines offerings for both wholesale and retail customers.
The firm has set out with a suite of car hire excess products available through brokers and affinity partners under the Halo Insurance brand, and online at iCarhireinsurance.com.
Prices start at £2.99 for daily policies, which according to Halo compares with up to £9.99 per day charged by some car rental companies. Annual cover is available from £39.99.
The products can be used with car rental agreements worldwide and cover extends to the roof, tyres, windows and undercarriage of hired vehicles.
A selection of add-ons are available, including personal accident, personal effects, vehicle rental cancellation, additional policyholder and vehicle key replacement.
Halo’s founder and chief executive officer, Ernesto Suarez, says: “Many people … end up spending a fortune at car rental desks, or find themselves with a huge excess bill at the end of the holiday after a small chip to their windscreen.”
He adds: “In fact, with many policies not covering the most vulnerable parts of the car, you could easily get hit with both!”
In January 2009, insurance4carrental.com launched a worldwide website advertising policies available from insurance4carhire.com and Questor
Sourec Insurance Daily
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