- 27% have damaged a hire car
- 8% believe they have been wrongly charged for damage to a hire car
- 53% only skim read the T&Cs
- 34% are unaware that they could be liable for excess charges of up to £2K if they damage the car
People who have hired a car for business travel are cutting corners and damaging cars when it comes to car rental according to a new YouGov survey, commissioned by iCarhireinsurance.com, the leading provider of stand-alone excess car hire insurance.
Almost one in three business travellers (27%) have damaged a hire car, with 18% of these admitting that the damage was their fault, while 13% said it wasn't their fault. (NB. Some said they had done both i.e., returned the car with damage caused by them and
damage not caused by them.)
In spite of this almost 70% of business travellers admitted that they had driven a hire car without being sure what insurance they had and what they were covered for; however as only half (53%) had read the terms and conditions of the rental agreement, as they had wanted to pick up the car as quickly as possible, this is hardly a surprise.
Over one in three (34%), for instance, are unaware that they could be liable for excess charges of up to £2000 if they damage the hire car.
The survey found that whilst eight out of ten (82%) business travellers are diligent in checking their hire car for damage before driving off only 52% check the condition of the wheels and tyres, despite these accounting for approximately one in five excess insurance claims, according to iCarhireinsurance.com.
Furthermore over one in three (41%) business travellers said that they have found damage on a hire car which was not highlighted on the check-out sheet when they collected the car. Any damage incurred to a hire car, even if the car is stolen or scratched in a car park, can lead to the hirer having to pay the first part of an insurance claim, up to the excess amount, which can be up to £2000.
It isn’t just on pick-up that drivers need to be vigilant. Almost half (48%) have had to return their hire car without seeing a hire car representative, because no-one was available. With almost one in ten business car renters (8%) believing they have been wrongly accused of damaging a rental car, not getting it signed off by a company representative could end up costing their company dear.
Excess insurance can be bought to protect drivers from paying for damage, but the rental company policies cost up to £20 a day*, seven times more expensive than a policy from iCarhireinsurance.com (from £2.99 a day). Rental desk policies also often exclude damage to windows, tyres and undercarriages which are included in an iCarhireinsurance.com policy.
Only 40% of business travellers have bought excess / waiver cover either from the rental desk or from a stand alone provider , like iCarhireinsurance.com.
“When a small chip to the windscreen or a damaged tyre can cost hundreds to fix business travellers need to make sure their companies are protected from unwanted costs by buying excess car hire insurance before they fly,” said Ernesto Suarez. “When you pick up a hire car it’s essential to check it over thoroughly and note every mark including on the wheels and tyres. We see plenty of people getting charged for minor damage which were on the car when they picked it up but unfortunately were not noted in the paperwork. Sadly in the modern world of vehicle rental this can be tantamount to writing a blank check to the rental desk,” said Ernesto Suarez, founder and CEO of iCarhireinsurance.com.
Regular business users can also buy an iCarhireinsurance.com annual policy from just £39.99 which allows them to make an unlimited number of trips each year, and use it for leisure travel too.
*Hiring a medium sized car in Milan in August 2015.
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,091 adults. Fieldwork was undertaken between 6th-7th May 2015. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).
Notes to Editors
Halo Insurance Services Ltd is a ground-breaking online insurance broker which was founded in 2009 by Ernesto Suarez, a leading insurance expert specialising in non-standard motor insurance. Its products include car hire insurance, van hire insurance and car club excess insurance all of which have been designed to offer more cover for a better price than the excess waivers offered at the rental desk.
Halo operates the retail brands iCarhireinsurance.com in the UK, Insuremyrentalcar.com in the USA, leihwagenversicherung.de in Germany, Aseguramicochedealquiler.es in Spain and Huurautoverzekering.com in the Netherlands. It also provides insurance solutions to a number of commercial partners involved who provide software and booking services to car hire operators.
Awards won:
- FINALIST – 2014 British Insurance Awards – Personal Lines Broker of the Year Award
- WINNER - 2013 British Insurance Awards – Insurance Start-Up Award
- FINALIST - 2012 British Insurance Awards – The E-Business Award
- WINNER - 2011 Insurance Times Awards – Broker Innovation of the Year
Halo Insurance Services Limited is registered in England number 6929208. Authorised and regulated by the Financial Conduct Authority. Register No. 504629 for the sale and administration of general insurance products in the United Kingdom and throughout the European Economic Area (EEA).
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 2,091 adults. Fieldwork was undertaken between 6th-7th May 2015. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).
