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Credit Hire

Credit hire is a term which is used very commonly in the motor insurance claims industry. However not many of us understand what it means or what the potential cost implications are of entering such an agreement. The agreement is referred to as a credit hire agreement and there are many different credit hire organisations operating in the UK.

Credit hire replacement vehicle is provided on a deferred payment basis where the credit hire company will seek to recover the charges from the fault driver’s insurers. If you are a vehicle owner and following a road traffic accident your vehicle is not roadworthy then you may be eligible for a like for like replacement vehicle. This may be offered to you by your own insurance company who often refer their policyholders to large national credit hire operators or accident management companies thus resulting in healthy commission payments for the insurer.

Our Difference

Unlike many of the large credit hire operators, Britannia Vehicle Rentals provides a totally independent and risk-free credit hire service. This means you receive a like for like replacement vehicle and we chase the fault driver’s insurance company for the charges relating to the agreement. Not only does this allow innocent vehicle owners to keep their no claims bonus intact, it also means that they won’t have to pay any excess as we chase the fault driver’s insurers for the costs directly. All charges relating to the credit hire replacement vehicle are deferred for 11 months and this allows us plenty of time to recover the charges. In the event we are unable to recover all or part of the charges we may issue court proceedings and have the matter dealt with by a judge.

Our credit hire service is available to all motorists across the UK including Scotland and Wales. Britannia Vehicle Rentals will arrange collection of your damaged vehicle and recover it to our inspection facility in your local area. Here a qualified independent vehicle assessor will assess the damage and compile a detailed report together with photographic evidence of the damage which we shall rely upon to recover the vehicle damage monies from the insurance company. If your damaged vehicle is beyond economic repair then it will be deemed a total loss and the full pre-accident value of the vehicle will be sought from the insurance company. You are entitled to keep the credit hire replacement vehicle for a maximum of 5 days after you receive the cheque for the vehicle damages or total loss payment upon which time we shall arrange collection of our hire vehicle and deliver your vehicle back to you unless we are instructed to dispose of the salvage.

Timings and Cost

On average the credit hire period lasts around 32 days and the daily rate of hire is reasonable and is calculated using various factors and for guidance we may refer to the ABI Rates table (general terms of agreement by Association of British Insurers). Britannia Vehicle Rentals prides itself on being an ethical credit hire provider and therefore will complete a series of checks prior to confirming your eligibility to a credit hire vehicle. Thus we can ensure that all losses are kept to a minimum and we are not adding to the rising cost of claims to the motor insurance industry.

Call Britannia Vehicle Rentals on 03300 10 10 99 and our dedicated credit hire team will answer your queries and help put you back on the road, usually on the same day.

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