iCarhireinsurance.com, the leading provider of standalone excess insurance, this week launched its ‘Car Hire Hit List’, featuring ten top tips to save drivers up to £760* on a week’s hire.

The hit list is based on the hire of a compact family car for a week.  

  1. Book early iCarhireinsurance.com research found that in 2015 holidaymakers saved on average £100 if they booked their summer hire car in February instead of waiting until June. Last minute deals do exist but to guarantee a good price, and the car you want, book as soon as you can – Saving approx £100. 
  2. Use price comparison sites The price charged by car hire companies varies significantly so always shop around to make sure you get the best deal. E.g., Hiring a car for a week in 2015 (6-13 Aug) in Crete cost £291 with Europcar and £468 with Sixt. However hiring in Barcelona for the same week Sixt charged £245, and Hertz charged £369. Use a price comparison site to shop around as the price between companies can vary by hundreds of pounds – Saving approx £150 
  3. Get the right sized hire car for you Being unable to fit in that pushchair or extra bag could cost you over £100 to upgrade to a bigger car.  E.g., booking a compact car to pick up from Alicante Airport for a week in Aug (6 – 13 Aug) costs £233 if booked in advance, but if you need a Ford C-Max, which can carry three large suitcases and two small cases, on arrival, you would pay £456 at the location, compared with £314 if you’d booked it online in the first place – Saving approx £140. 
  4. Shop around for car hire excess insurance – If a hire car is stolen or damaged even if it isn’t the hirer’s fault means they are liable for the excess which can be as much as £2,000.  Hire car companies charge on average £16 a day for excess insurance/waiver to protect drivers from this, but this can be as much as £28 a day!  Buy a standalone policy from £2.99 a day or £37.99 for an annual policy from iCahireinsurance.com – Saving approx £90 on a week’s holiday. If you travel more than once a year, an annual policy could save even more.
  5. Take a spare credit card – If you don’t buy the car hire company’s excess / waiver policy they will often insist that the excess is held on a credit card until the car is returned undamaged. Take a spare credit card with you, as having £2,000 held on your one credit card could seriously limit your holiday spending. – Saving £110. 
  6. Protect your tyres and windscreen – Often rental desks’ excess policies exclude damage to windows, tyres and undercarriage, and sell a separate Tyres and Windscreen excess policy for around £32 a week.  All iCarhireinsurance.com policies include, as standard, cover for vulnerable parts of the vehicle including windscreens, tyres, roof and undercarriage – Saving approx. £30. 
  7. Sharing the driving increases the costs – Adding a named driver to your rental agreement could cost almost £10 per day and if the driver is under 25 this could be as much as £30 per day. If one of you is going to do 90% of the driving is it really worth the extra cost? Different companies charge different amounts, so if this is important to you, factor it in when making the booking. – Saving approx £70. 
  8. Do you need a SatNav? – It can cost over £80[vii] to hire one for a week, and often this cost is not disclosed to you when you book. If you have a detachable SatNav at home, it is normally cheaper to upgrade to European mapping and take it with you, or consider getting a SatNav app for your smart phone – Savings approx £80 if you take one with you (or £30 if you buy one for £69.99). 
  9. Hiring a car seat for your child can cost up to £70 for the weekMany airlines will take car seats in their hold for free, so consider taking yours with you. For older children why not purchase an inflatable booster child seat? Saving approx £70.   
  10. Check the exchange rate – Some companies let you pay for your extras when you book your hire car, but others cannot be paid for until you arrive at your destination.  Changes in the value of the pound against the Euro can make a big difference in price so keep this in mind when making your booking. With theaverage cost of extras totalling £276 a 10% change in the value of the pound against the Euro can add or remove £30 from your bill. Saving approx. £30

Ernesto Suarez, Founder and CEO, iCarhireinsurance.com said, “When hiring a car the headline price is often not the price you actually end up paying, and often the prices for extras are not available until drivers reach the rental desk. We created this ‘Hire Car Hit List’ to help drivers get the best deal and avoid the pitfalls.” 

Thousands of people in the UK are in the dark about when they’ll be credit checked for life events and financial products, according to a study from Amigo.

The research revealed being credit checked for a job (80 per cent), monthly insurance instalments (63 per cent) and renting a flat are among the top things consumers are not aware they’ll be credit checked for.

More seriously, 18 per cent didn’t know they would be credit checked when applying for a credit card, meaning they’re potentially hindering their chances of getting one. This was closely followed by submitting a mortgage application and a securing a personal loan. 

The life events and financial products Brits were unaware they’d be credit checked for

 Job – 80%

Monthly insurance instalments – 63%

Electricity and Gas direct debit payment – 56%

Flat rental – 50%

Mobile phone monthly contract – 37%

Overdraft extension – 49%

Store cards – 42%

Retail finance – 37%

Car finance – 27%

Personal loan – 24%

Mortgage application – 22%

Credit card – 19%

With only 12% of people actually knowing their exact rating, thousands could be in for a nasty shock when applying for a job, loan, mortgage or even renting a flat.

What’s worse, if you are credit checked and are declined, that process can actually damage your credit score even further.

A damaged credit score severely impacts an individual’s ability to borrow from a lender, especially a mortgage and a loan. If your credit score is poor, it indicates that you are less trustworthy when it comes to paying back a loan.

There are a number of credit reference agencies available which allow people to check their score before applying for credit including Equifax, Experian and Callcredit.

Glen Crawford, CEO at Amigo Loans, which commissioned the study said: “There is a huge lack of understanding about when you’ll be credit checked and for which products. The days when you would be checked for just mortgage are long gone, even some employers are conducting full credit checks nowadays.

“It’s never been so crucial that people who think they do have a chequered financial history, take positive actions to improve their credit file so they avoid disappointment down the line.”

Aviva has revealed it paid out over £19.2 million last year to UK holidaymakers whose holidays had to be cancelled before they started.

Despite the number of holiday cancellations, just a quarter of would-be holidaymakers take out insurance at the same time as booking their trip.  A third (32%), buy it the month before their trip and 10% of travellers don’t bother with  insurance at all, leaving  themselves at risk from hefty medical bills or losing their holidays altogether.

Across its travel insurance business, the insurer received 30,000 claims from disappointed travellers whose holiday plans had to be put on hold due to family bereavements, illness or other circumstances.  The data also revealed:

  • The average cancellation claim was £640
  • It received over 60 claims for cancelled trips worth over £10,000
  • The highest claim was for £26,000

However, Aviva research also shows that only 40% of people say they  always take out travel cover when going on family holidays and a further 20% say they only take out cover when travelling abroad.

Commenting on the findings, Adam Beckett, director of products at Aviva’s UK general insurance business, said: “As the peak holiday season approaches, it’s important holidaymakers make sure they have enough cover in place if the worst happens and they’re not able to travel.

“Many travellers assume travel insurance just protects them while they’re on holiday and they might not take out cover until just before they jet off for sunnier climes.  While we hope the worst never happens, it’s a sad reality that sometimes our plans have to be changed or cancelled due to illness or other unforeseen events. Taking out travel insurance at the same time as booking the holiday will avoid any unnecessary and added stress if holidaymakers aren’t able to travel.”

To help holidaymakers make the most of their break away, Aviva has put together the following travel insurance tips:

  • Be protected from the start: take out your policy when you book your holiday
  • Make sure you inform your insurer of any pre-existing medical conditions
  • Check you have the right documentation before you go and check visa/passport requirements.  Recent changes to entry requirements in America mean travellers without biometric passports could be left stranded and denied entry to the country
  • If you have personal belongings cover as part of your home insurance, you may not need additional baggage cover on your travel insurance
  • Check before you go – visit https://www.gov.uk/foreign-travel-advice and follow the latest travel advice from the Foreign and Commonwealth Office for your holiday destination

Credit card experts MBNA have announced that Android Pay, by Google, is now available to their customers as the app goes live in the UK today.

Android Pay will enable Android™ mobile users to seamlessly tap and pay with their phones at almost 460,000 contactless payment points in the UK, with more locations being added every day. It can also be used to make purchases in supported Android apps.

MBNA Head of Innovation Gary Watts said: “Our customers have been avid early adopters of contactless payment technology, and we’re excited to be at the forefront of Android Pay’s UK launch. Customers can add their MBNA-issued credit cards to Android Pay from today to make convenient contactless payments in stores, as well as online payments in apps.

“You can be among the first to the party with an MBNA card, and getting started is very straightforward: you simply need to download theAndroid Pay app from the Google Play Store and sign up for Android Pay through the app. You can then add your preferred MBNA MasterCard® or Visa credit card by using the camera in the app to capture card information, or by entering card details manually, and you are ready to tap and go.”

Security has been at the centre of MBNA’s approach to mobile payments. To protect customer’s data, every card number registered in Android Pay is substituted with a unique payment token number which is used when using Android Pay at merchants. This means that customers’ credit card numbers are never shared with merchants, giving an extra layer of security as the payment information is transferred.


More than 5 million people in Britain have no idea how much their mortgage is costing them, according to research released today by habito, the world’s only digital mortgage broker.

With 7.6 million active mortgages in Britain, the study found one-third (33%) of UK mortgage holders don’t know what interest rate they are paying – despite it being one of the biggest financial commitments that most Brits have. The research has exposed the widespread lack of knowledge among homeowners over the basic details of their mortgage, potentially caused by the complexity and hassle of the mortgage application process, and a reluctance to manage mortgages effectively over the long-term. This is estimated to cost consumers £29 billion a year.

The research also revealed of the mortgage owners surveyed:

  • One in eight (over 1.8 million mortgage holders) don’t know if they have an interest only mortgage;
  • Almost one in ten (over 1.4 million mortgage holders) don’t know if their mortgage is a fixed or variable rate;
  • Almost one in ten (over 1.3 million mortgage holders) don’t know how long their mortgage term is;
  • One in every 20 mortgage holders (over 700,000 mortgage holders) cannot even name their lender

Mortgage holders in Wales are the savviest in UK when it comes to knowing what interest rate they are paying on their mortgage, with far more people in the region (79%) knowing this than in other areas of UK. That compares to just 65% of mortgage holders in London and 63% in the South East, where house prices are often higher. The research also revealed a stark gender gap. Less than two-third of women (61%) know how much interest they pay on their mortgage, which rises to almost three quarters (73%) among men.

Daniel Hegarty, CEO of habito, said: “For most people, a mortgage is the biggest financial commitment of their lives, yet the application process is opaque, slow and untouched by technology. It’s no wonder there is such a widespread lack of awareness among existing mortgage holders and such reluctance to manage their mortgages over the long-term. Applying for a mortgage with a traditional broker is stressful and confusing – people just want it to be over as quickly as possible and then forget about it.

While traditionally slower to adopt new technology than younger generations, when it comes to contactless, the UK’s over 60s are well and truly bucking the trend.

Data released by Barclaycard today shows that the number of ‘silver spenders’ using ‘touch and go’ payments increased by 116 per cent in the last 12 months. The figures show that the older generation has finally jumped on the contactless bandwagon that their younger counterparts joined several years ago.

In comparison, the number of contactless users among all other age groups is also rising, but as usage is already high, the rate of growth is slower. Among the 18-24 age group, users have risen by 49 per cent, while for 26-45 year olds the figure is up 65 per cent and among 46-60 year olds users has climbed by 97 per cent.

The findings come as the UKCA reveals that contactless spending passed £1.5 billion for the first time in March, increasing from £1 billion per month in November. This upward trend in the popularity of contactless is supported by Barclaycard’s data showing that overall spending has more than doubled in the last 12 months, rising by 123 per cent.

Britain’s love of a bargain continues to go from strength to strength with the nation’s savvy spenders helping discount stores see a 431 per cent surge in transactions made contactlessly in the last year, more than any other sector. In second place were gift card & novelty stores up 261 per cent, followed by service stations in third, where spending has climbed by 245 per cent.

People frozen out by mainstream lenders shouldn’t fear the demise of the payday loans industry as there are better options available even if your credit rating isn’t the best.

Specialist Credit Cards

The big credit card companies will give you the cold shoulder if your credit record is below par but there are a number of specialist credit cards that can help you get back on your feet.

The interest rates are higher than standard credit cards but much less than payday loans. Tesco Bank for example charges a representative APR of 28.9% on its Foundation Credit Card and Marbles comes in at 33.8% APR.

Another option in this market comes from MBNA with its credit builder card at a representative APR of 25.9% APR.

To rebuild your credit status, you need to show that you can manage a credit card in a responsible manner, and by making payments on time EVERY month then over time your credit score will gradually start to recover..

Paying the full statement balance each month is even better as you’ll be improving your credit score without paying any interest charges in the process.

Guarantor loan

Another cheaper payday alternative is a guarantor loan with sums of between £500 and £5,000 available from Amigo Loans at a representative APR of 49.9%.

You will need to find a creditworthy friend or relative to act as guarantor for your loan and  if for some reason you are unable to pay, then the guarantor becomes liable for the outstanding balance.

Amigo feeds back your payment history to the credit reference agencies, so again paying on time every month is another step towards a healthy credit score.

Finally, don’t forget your local credit union.

Although you’re unlikely to be able to borrow more than £1,000 until you’ve proved your ability to save, it’s another low cost avenue to explore if you’re shut out by mainstream banks.

Many credit union loans will cost you no more than 1% per month (12.7% APR) on the reducing balance of the loan.

To find a local credit union visit www.findyourcreditunion.co.uk and simply enter your home town and postcode details or alternatively give them a call on  0161 832 3694

If money is tight a payday loan may look like an easy solution but it’s not – always check out the smarter options first.

“It wasn’t my fault” said almost a quarter of car hire drivers who have had to claim for damage on a hire car.

iCarhireinsurance.com, the leading provider of specialist car hire excess insurance, analysed its claims from 1 January 2014 until 30 September 2015, and found that in 23% of claims, the claimant said the damage to the hire car was not their fault.

Returning to a parked car and finding it scraped, scratched or damaged in any way accounted for over three-quarters (74%) of these ‘not my fault’ claims, demonstrating that it doesn’t matter how good a driver you are, a simple visit to the supermarket can result in someone scratching the car with their trolley.

Other ‘not my fault’ excuses included a collision with an animal (a deer / kangaroo / dog and boar were all given); vandalism or theft (Italy and Portugal had the highest number of incidents); and the hire car having pre-existing damage in the hirer’s opinion i.e., when damage was not recorded on the rental company’s check-out sheet but the hirer insists it was already there when they collected the hire car.

Many customers are unaware, until they collect their hire car, that in the event of damage or the car being stolen, even if it’s not their fault, they are liable for excess charges of up to £2000.  At this point, unless they purchase excess protection from the rental-desk, they are left exposed. These policies are usually expensive, approximately £15 a day and limited in scope.

iCarhireinsurance.com’s excess insurance costs from £2.99 a day and it also protects vulnerable parts of the rental vehicle that are usually excluded in the rental companies’ policies.  For example, a consumer would save over £100 with an iCarhireinsurance.com policy, costing £23.92, compared to buying an excess waiver product for £138 from Europcar in Tenerife this Easter (26 March to 2 April 2016).

Ernesto Suarez, CEO and founder of iCarhireinsurance.com, said: “It doesn’t matter how good a driver you are, if your hire car gets damaged you will be held liable by the rental company whether it was your fault or not.  When a small scratch down the side of the car can cost hundreds of pounds to fix, it’s important that hire car drivers protect themselves against a high excess with a specialist car hire excess insurance policy, like iCarhireinsurance’s, whilst also saving money at the rental desk.”

As well as daily cover from just £2.99, iCarhireinsurance.com also offers annual cover from £37.99.

Key Benefits of Stand-Alone Car Hire Excess Policies

  • Annual or Daily cover
  • Protect yourself against excess charges for damage and theft
  • Cover for damage to areas usually excluded by the rental company such as windscreens, tyres, roof and undercarriage
  • European or Worldwide coverage
  • UK automatically included for UK residents
  • No distance from home restrictions
  • Cover for additional drivers named on the rental agreement

We’re a nation of competitive gardeners, investing more than £17,000 in our gardens over a lifetime to impress neighbours and keep up appearances, according to new research from Policy Expert.

Nearly one in four (23%) of the 2,205 people surveyed complained of a green-fingered neighbour whose garden always upstages the rest of the street, with over one in ten (13%) claiming it’s their own garden that’s the talk of the town.

People admitted to gardening because they’re worried about what their neighbours might think of unkempt lawns, with more than a third (37%) of those surveyed stating they pulled weeds and potted plants in fear of others thinking their garden looks a mess. A further 40% admit that they keep their garden pruned out of sheer pride. 3% of those surveyed admitted they spent time and money in their garden just to win competitions.

The research found that the average UK homeowner spends £350 a year on flowers and ornaments for their garden. When asked what would be at the top of their gardens wishlist, nearly a third (30%) would opt for the perfect lawn, with 20% plumping for a water feature.


Top features that embody an English garden as voted for by Policy Expert customers:

Popularity Feature
1 Garden shed
2 Roses
3 Patio
4 Striped lawn
5 Bird bath
6 Vegetable patch
7 Greenhouse
8 Water feature
9 Pond
10 Gnome


Reassuringly, 86% of us have a fence at the very least to protect these cherished gardens, but only 57% have installed lighting as a precaution and just over half (58%) have locked gates. Further still, one in three of those surveyed were unsure if they were covered against garden damage and theft in their home insurance policy – leaving thousands of pounds worth of hard work left vulnerable across the UK should burglars come calling.


Adam Powell, Head of Operations at Policy Expert commented:

“Thousands of Brits choose to spend serious time and money on their gardens – whether it’s for a genuine love of the pastime, or a case of keeping up with the Jones’. Either way, it’s always best to err on the side of caution and keep your garden and its contents secure. It’s also really important to make sure you’re clued up on what your insurance policy covers, so you can sit back, relax and enjoy your green fingered efforts… as long as the British weather holds up.”


Tips from Policy Expert to keep your garden safe:

  • Make sure you protect your garden with security measures e.g. outdoor lighting or a locked fence
  • If you have a shed or outbuilding, make sure your home insurance policy includes outbuilding protection, and check exactly what this includes
  • Make sure valuable items such as BBQs or sports equipment are shielded from view, under a cover or stored in a shed or garage
  • If you’re taking gadgets outside such as tablets or smartphones, ensure that they’re covered in your home insurance policy in case they’re lost or damaged

Half of people in the UK have never checked their credit score, according to research from RateSetter, with 53% doing something which may actually harm their credit score – potentially making it difficult or impossible for them to borrow money in the future.

In addition, three in ten (30%) people are worried about their creditworthiness and a similar number (32%) intend to take action to improve their credit score within the next 12 months.

Credit scores help lenders decide whether to lend money, how much to lend and how much interest to charge. By not knowing their credit score, people risk paying more interest when they take out a loan and may face limits on the amount they can borrow. In extreme circumstances, they may find themselves “locked out” of credit.

While eight in ten people (83%) know what a credit score is, half (50%) do not know their personal credit score and had never checked it. A further quarter (25%) say that they did not know their current score but had checked it in the past. Just one in five (20%) know their score exactly or approximately.

More than half of respondents (53%) are doing things which may harm their credit scores. For example:

  • One in five (22%) have paid a bill late in the last five years.
  • One in seven (15%) are not on the electoral register.
  • One in ten people under 35 (10%) have moved house more than twice in the last two years
  • One in fifty (2%) have a joint bank account with an ex-partner

Many other respondents were also doing things which may prevent them from building up a good credit history: for example, one in ten (11%) have never taken on any debt, which can result in what’s called a “thin file”, where underwriters do not have access to enough information to assess someone for creditworthiness due to a lack of borrowing history.

“Credit scoring is an imperfect science” commented Jay Magee, head of retail underwriting at RateSetter, “but it is a really important part of the decision of whether to give someone a loan.  By checking your credit score, which the likes of ClearScore, Equifax and Call Credit allow you to do for free, and taking a few easy steps such as getting on the electoral register, you can really improve your score and with it, your chances of borrowing more cheaply.”

Jay added “Some people think that by never getting into debt, they will automatically be seen as creditworthy.  But in reality, it’s by borrowing and paying back on time that you can build up a good score.  Our list of the seven deadly credit scoring sins is a mini-guide to help people improve their scores.”

Seven deadly credit scoring sins

  • Not being on the electoral register
  • Moving home too often
  • Not paying bills on time
  • Not building up any debt, ever
  • Sharing a bank account with someone with poor credit history
  • Having too much outstanding debt
  • Remaining a “financial associate” of an old personal or business partner

RateSetter has published a free guide designed to help people to improve their credit score, which is available at www.ratesetter.com/blog/article/know-your-credit-score.