Brits set to get stung this Easter with Sky-High excess insurance costs – EU car rental firms cash in on UK drivers with massive excess charges

13 March 2008

- Beware of Excess charges this Easter in Europe's top hot spot destinations
- Excess bills of up to £1,000 leave travellers with dents in their wallets
- No catch standalone Excess cover at just £49 a year for Europe saves drivers £££s

Easter is likely to see thousands of Brits heading for the sun.

But holiday makers driving rented cars in the Eurozone are vulnerable to huge Excess charges of up to £1,000 which car rental firms can swipe from their credit cards, reports standalone Excess insurance specialist Insurance4carhire.com .

A survey* from Insurance4carhire.com reveals that the top five European holiday-in the- sun destinations for this Easter are Malaga (Southern Spain), the Canary Islands, Portugal, Southern France and Malta - areas where Brits frequently get stung with Excess charges.

But of those holidaymakers surveyed by Insurance4carhire.com , nearly 40 per cent said they were not aware that they were liable for these charges.

"Whilst overseas, many UK drivers have to accept the car hire firm's Excess cover at higher prices or else drive away with no protection against Excess on damage and theft," says Insurance4carhire.com .spokesperson Larry Ursich.

But even with excess cover bought from their car rental firm, drivers may still have to pay up for damage to the undercarriage, tyres and windows as many firms exclude this from their policies.

"During peak seasons such as Easter when rental queues are endless, it is a common mistake not to check the small print," he says. "Rushing through the hiring process can potentially cost them hundreds of pounds should they return with a chipped window for which they weren't covered.

"We would strongly advise anyone hiring a car abroad to read their car rental agreement as they vary from country to country, as does the Excess charge which they could be liable for (see table below). Better still, buy from
Insurance4carhire.com before leaving the UK.

"Although Portugal, with its hefty Excess charge of up to £1,000, generally includes damage to the undercarriage, tyres and windows, those travelling to France could be hit by a charge as damage to those parts of the vehicle is generally excluded. Malta & Spain are slightly more lenient with Excess charges, but it's still worth paying attentionto what you are signing up for."

But Insurance4carhire.com has developed an alternative that will save motorists a small fortune: low annual car rental Excess insurance products to protect customers whenever they rent a car, with peace of mind that the total amount of Excess will be covered.

Europe-wide cover costs just £49, covering the policyholder and all additional drivers on the car rental agreement for multiple use throughout the year.

Worldwide cover costs just £59 to provide protection anywhere in the world where Excess is charged.

* Insurance4carhire.com survey undertaken in the 12 months up to February 2008

Notes

Founded in 2002 Insurance 4 Car Hire is an innovative online insurance company whose core business is the provision of car rental Excess insurance. The business was born out of the high costs being charged by the car rental companies for Excess cover. Insurance4carhire strives to bring customers annual Excess insurance products offering customers convenience, peace of mind and very significant savings when they rent cars.

In 2005, for the second year running, Insurance4carhire received the accolade of "World's Leading Innovative Ecommerce Travel Product" from The World Travel Awards. These annual awards celebrate achievement in the travel industry and are based on votes cast by travel industry professionals throughout Europe.

To reflect the increasingly global reach of its products, Insurance4carhire changed
underwriters to AIG UK Ltd, a member company of American International Group, Inc., (AIG) in December 2007. AIG is one of the worlds leading insurance companies with operations in more than 130 countries.

Insurance 4 Car Hire is now part of the Towergate Partnership the largest independently owned insurance intermediary in Europe.

Source: Insurance4carhire.com

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Brits set to get stung this Easter with Sky-High excess insurance costs – EU car rental firms cash in on UK drivers with massive excess charges

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