Self drive hire insurance

[Sjfarrows]

I am looking into starting to rent cars out to tourists as I live near an airport and just people who need a car for a few days, weeks or months. I have been searching forums to gauge an idea of how much the self drive hire insurance would cost but have been unable to find much information on it. I would be wanting to rent out vauxhall corsa 1.2 cars. I know there are going to be many factors effecting the cost but does anyone have a very rough idea how much it would cost to insurance the mentioned type of car for a year?
Any help would be great, thank you for Reading. Steve.

 

[vvaannmmaann]

http://www.ukbusinessforums.co.uk/forums/archive/index.php/t-9361.html

http://www.rentalbusiness.aon.co.uk/Insurance-for-Car-Rental-Companies.aspx

 

[TheGuru2010]

I am looking into starting to rent cars out to tourists as I live near an airport and just people who need a car for a few days, weeks or months. I have been searching forums to gauge an idea of how much the self drive hire insurance would cost but have been unable to find much information on it. I would be wanting to rent out vauxhall corsa 1.2 cars. I know there are going to be many factors effecting the cost but does anyone have a very rough idea how much it would cost to insurance the mentioned type of car for a year?
Any help would be great, thank you for Reading. Steve.

You will need a lot of research into this, the insurance market is touch for this sector at the moment & premiums are high.

If you are a new venture & looking to rent vehicles to tourist's from overseas then I would say you need to be putting around £3K - £4k per vehicle on the insurance (could even be more dependent on area etc) - That is a rough ball park based on the figures been given at market.

Best of Luck

 

[wevet]

As one who is in the rental business I can tell you that as a "newbie" it is virtually impossible to obtain self drive hire cover. Your best bet as a start up is to approach Tradex. However, even they baulk now at covering hirers from outside the EU which will, of course, restrict your market.

 

[TheGuru2010]

As one who is in the rental business I can tell you that as a "newbie" it is virtually impossible to obtain self drive hire cover. Your best bet as a start up is to approach Tradex. However, even they baulk now at covering hirers from outside the EU which will, of course, restrict your market.

This chap has it right, there are only a few markets that will look at this & again it isn't cheap. We also use Tradex & as a bit of a heads up dont approach them until you have done all your homework.

On a new venture I have known them to request the full business plan of the business.