Credit hire is a term which is used very commonly in the motor insurance claims industry. Many client’s don’t 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.

Credit Hire is a replacement vehicle provided to our clients on a deferred payment basis. We recover the charges from the fault driver’s insurers. If you own a vehicle and have been involved in a Road Traffic Accident. Then, you may be eligible for a like for like replacement vehicle. This may be offered to you by your own insurance company who refer their policy-holders to large national credit hire operators. Thus, benefiting the insurance companies with the healthy commission payments.

Our Difference

Unlike many of the large credit hire operators, we provide a totally independent & 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. 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. 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. We arrange collection of your damaged vehicle and recover it to an inspection facility in your local area. A qualified independent vehicle assessor will assess the damage and compile a detailed report together with photographic evidence of the damage. We will rely upon on this report to recover the vehicle damage cost 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. During this 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. Our daily rate of hire is reasonable and is calculated using various factors. For guidance we may refer to the ABI Rates table. (General terms of agreement by Association of British Insurers). Note: This is a guide we use, our daily rates may vary. We pride ourselves on being an ethical credit hire provider. 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.