LONDON, UNITED KINGDOM--(Marketwire - Sept. 19, 2012) - More than half a million* new students will start university this year. Many of these students, along with their parents, will be hiring vans to transport their TVs, laptops, posters, pots and pans, cuddly toys etc. and the last thing they want is to add to their already huge fees with a bill for £2,000 (the equivalent of 4000 loaves of bread, 5555 tins of beans or 689 pints** in the local!) if they damage the hire van and don't have van hire excess insurance.
"Even a small chip on the windscreen can cost hundreds of pounds," said Ernesto Suarez, Founder and CEO, iCarhireinsurance.com. "We want to warn students and their parents that while hiring a van can be cost-effective, please be aware that if the van is stolen or damaged in any way, even if it's not their fault, they could end up with a large excess bill."
With almost two-thirds (65%)*** of van hirers driving a van for the first time, according to 2011 YouGov research, proper insurance cover to protect against the first part of any claim, known as the excess, is absolutely essential.
Buying insurance direct from the van company to protect against the excess can cost up to £20 a day, which will still only reduce the liability to £250 - £750 rather than reducing it to zero. Specialist provider, iCarhireinsurance.com, sells daily van hire excess insurance from only £7.99 a day, and reduces the excess liability to zero. It also offers students great deals on car club excess cover as well as car hire excess.
"Driving a van is very different to a car therefore we urge students to check their excess liability if they don't want to end up with a large bill. £2000 is two thirds of a term's fee, and can buy more than 689 pints, even more in most student unions, so make sure you get the right protection," said Ernesto Suarez, Founder and CEO, iCarhireinsurance.com.
* Thisismoney.co.uk 15 August 2012 http://www.thisismoney.co.uk/money/studentfinance/index.html
** http://www.pintprice.com/region.php?/United%20Kingdom/ - 12th September 2012
*** YouGov Plc survey. Total sample size was 2007 adults. Fieldwork was undertaken between 1 - 4 April 2011. The survey was carried out online. The figures have been weighted and are representative of all GB adults (aged 18+).