Wednesday 30 May 2012

Jubilee 'DIY' weekend could be a costly exercise for some if they hire a van

Just picked up this item from the iCarhireinsurance.com web site -  Is your Van Hire company laughing all the way to the bank holiday?

The story is of interest, partly because of promoting iCarhireinsurance and other companies on the insurance4carrental.com web site and also because I hired a van last weekend and actually bought excess insurance from iCarhireinsurance. Fortunately I did not have to make a claim, but it was a lot cheaper than the product be offered by a major UK van hire rental company.
Unfortunately I could not return the van till the Monday meaning I had to pay for another day's hire, but a town centre car hire company cannot be expected to be open 7 days a week. It is a different matter at an airport or in London for example. It was my choice of when I rented the van and had to fit in with their opening hours.
The iCarhireinsurance bill came to £39.96 and although I did not collect the vehicle till 17.00 on the 24th May and returned it  at 10.00 on the 28th, I was actually probably paying for full days and there were two drivers.
So what are the people at iCarhireinsurance saying about hiring a van over the coming Jubilee bank holiday weekend?
"Hiring a van for the Jubilee weekend could put consumers out of pocket by up to £500 if the vehicle is damaged, even if it's not the driver's fault, as most rental companies do not allow customers to reduce their insurance excess to zero which is standard practice when hiring a car.

According to research by iCarhireinsurance.com, a leading supplier of van and car hire excess insurance protection, hiring a van for the Jubilee 'DIY' weekend could be a costly exercise for some.

"When 65%* of van hirers are driving a van for the first time," said Ernesto Suarez, founder and CEO of iCarhireinsurance.com, "proper insurance cover to protect them against the first part of any claim, known as the excess, is absolutely essential. Even a small chip to a windscreen can cost hundreds to fix."

Buying insurance direct from the van company to protect against the first part of any claim, known as the excess, can cost up to £13 a day, which might still only reduce the excess, leaving customers with a sizeable liability of between £250 and £500 still to pay out of their own pocket. Specialist provider, iCarhireinsurance.com, sells daily van hire excess insurance from only £7.99 a day and reduces the excess liability to zero.

iCarhireinsurance.com looked at the costs of hiring a short wheel base transit from Birmingham from 2 June to 6 June, the Jubilee holiday period, and discovered the following:

- Hiring a van from Sixt: A consumer would need to pay an additional £7 per day hire, on top of the hire charge, to reduce the standard excess from £1000 to £500 making a grand total of £28 for the four day hire period and still leaving them vulnerable to a charge of £500 if the van is damaged.

- Hiring a van from Thrifty: Again the standard excess is a hefty £750, which can be reduced to £250 for an additional £13 a day. This is an extra cost to the hire charge of £112 and still does not reduce the excess to zero.

- Hiring a van from EuropCar - To reduce the excess from the standard £800 to zero costs an eye-watering £34.01 a day with the company's 'Risk Reduction Cover'. A customer taking this out would spend over £136 for the four day hire period.

"Driving a van is very different to driving a car therefore we urge DIY enthusiasts and anyone using a van to transport Jubilee celebration materials to check their excess liability if they don't want to end up with a large bill they were not expecting," said Ernesto Suarez, Founder and CEO." Source iCarhireinsurance 22-5-12

At the end of this, all I can say is that by chance I hired a van from one of the van hire companies that iCarhireinsurance has quoted and I can certainly confirm that I saved a lot of money and in the event of having to hire a van again, will certainly buy the excess insurance from a specialist insurance company like iCarhireinsurance.

What to find out more? Visit their page at the insurance4vanrental.com/insurance4carrrental.com site HERE

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