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Home Business NewsBusinessAutomotive NewsCar hire up 60% in winter sunspots compared to pre-pandemic prices

Car hire up 60% in winter sunspots compared to pre-pandemic prices

by LLB Reporter
15th Nov 22 1:05 pm

Winter sunseekers are paying 60% more for car hire than they were pre-pandemic, according to a new survey by iCarhireinsurance, a leading provider of car hire excess insurance.

In 2019, it was ยฃ141 on average to hire a car for the week, whereas in 2022 it is ยฃ234.

The survey carried out by iCarhireinsurance.com, a leading provider of car hire excess insurance, compared the cost of renting a medium compact hire car, e.g., a Ford Focus or VW Golf, in the popular winter sun destinations of Larnaca (Cyprus), Barcelona, Faro and Tenerife for a week from 19 โ€“ 26 November 2022 compared to the same week in 2019. Six rental companies were surveyed, Hertz, Avis, Budget, Europcar, Enterprise and Sixt.

It found that the car rental price for all four destinations had risen by 60% or more since 2019, with Barcelona up 60% (an increase of ยฃ77), Faro up 64% (an increase of ยฃ100), Tenerife up 69% (an increase of ยฃ100) and Larnaca up 74% (an increase of ยฃ97).

The 2022 survey also looked at the two additional destinations of Nice and Milan, finding it costs, on average, ยฃ331 in Nice and ยฃ408 in Milan for a weekโ€™s hire in November, compared to the cheapest destination in the survey, Barcelona (ยฃ205) followed by Larnaca (ยฃ227), Tenerife (ยฃ246) and Faro (ยฃ257).

There are some bargains to be had though. For instance, in Larnaca two rental companies, Budget (ยฃ165) and Europcar (ยฃ181), are charging below ยฃ200 for the weekโ€™s hire; and similarly in Faro, Budget (ยฃ195) and Enterprise (ยฃ180) are below ยฃ200.

Winter sunseekers should be wary, however, of the price of car hire extras, which can more than double costs. For example, hiring with Budget in Faro, the weekly rental cost is ยฃ195, then the extras offered include Super Damage Waiver costing ยฃ265, Tyre and Windscreen Excess ยฃ35, an extra driver ยฃ68, sat nav ยฃ90 and a car seat ยฃ81, totalling ยฃ539 in extras alone.

The average price to rent a car across all six destinations in 2022 is ยฃ279, but when the extras are added the final price is ยฃ690, an increase of ยฃ411 – over double the original price. This is because the average price for Super Damage Waiver is ยฃ157, Tyre and Windscreen Excess cover ยฃ48, Extra Driver ยฃ61, Sat Nav ยฃ76 and a child โ€˜s car seat is ยฃ69.

If a hire car is damaged or stolen the driver is liable for the excess which is on average over ยฃ1,300 for damage and theft across the survey. Excess waiver insurance is one of the most expensive extras, costing on average ยฃ205 a week (ยฃ157 for Super Damage Waiver and ยฃ48 for Tyre and Windscreen Excess) from the rental companies. It can be bought from specialist insurance companies, like iCarhireinsurance.com, to avoid buying it from the rental companies and costs from only ยฃ3.99 a day or ยฃ44.99 for an annual policy for European cover.

Ernesto Suarez, founder and CEO of iCarhireinsurance.com said, โ€œCar hire costs can be confusing but getting a good price on your rental car doesnโ€™t have to be difficult. Itโ€™s normally the price of the extras which can come as a surprise.

“Once youโ€™ve found a good deal, make sure you check the prices of the extras you need. Simple things like taking your own sat nav and child car seats, as well as buying car hire excess insurance from an independent provider in advance can give huge savings and mean that the original car hire deal really is as good as it seemed.โ€

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