Why are my insurers concerned about credit hire?

If you are involved in a car accident you need to be careful to see if a credit hire company becomes involved for the third party.

Credit hire is when a third party hires a car following an accident while theirs is being repaired and tries to claim the cost from your insurers. A third party that is not at fault for the accident is entitled to use a credit hire but it is important that everything is done to keep the cost to a minimum.

The cost of credit hire is charged each day and can run into thousands of pounds if it is not managed correctly. The result is that any delay in notifying insurers of a third party in credit hire can increase the cost of the claim, which can then affect your renewal premium later.

Once the insurers are aware of the credit hire they will deal with the third party on your behalf to the keep the costs to a minimum.

If you are involved in an accident and are offered credit hire it is best to read the terms and conditions carefully because there are some unscrupulous operators in the market. There have been cases when credit hire companies have tried to recover the cost from the person hiring the car after they could not get them from the insurance company.

If you do require a hire car after an accident then it is best to speak to the Centor Claims Team about as they can arrange a car with a reputable firm on your behalf.