Excess Reduction

Following the Stevens-v-Equity judgement last year, the importance of insurance excesses has never had a greater bearing on credit hire claims as insurers attempt to prove that alternative rates evidence is ‘reasonable’.

High street providers are not always able to lower their insurance excess to zero due to the value of the vehicle or because of limitations placed on them by their insurance policy.

TCF’s response to this is to offer our free-of-charge but optional integrated excess reduction service in order to make sure that excesses are reduced to zero where possible ensuring that TCF’s rates are as ‘reasonable’ as can be.

TCF’s fully integrated excess reduction report is compiled once a week and follows the same methodology as our BHR report whereby the Google search engine is used to identify the first three companies offering hire car excess reduction insurance policies.

There are a large number of these company’s on the open market who are able to reduce the excess of the vast majority of hire vehicles to zero at a fraction of the cost of a traditional excess reduction products.

Be aware, however, as these excess insurance policies do not operate in the same way as the traditional excess reduction products operated by the mainstream hire providers in that they are excess reimbursement policies.

This means that in the event of an accident or a vehicle theft, the hirer must still pay their excess directly to the lessor before claiming that money back from the excess reduction insurance provider.

The reimbursement is then paid to the hirer within 28 days of a claim being made.

TCF obtain quotations for the first three such providers and produce a weekly report which is seamlessly integrated into our standard BHR report to offer our clients even better value and offering them best possible chance to offer the most reasonable alternative rates evidence possible. Limitations do exist in terms of which vehicles which can be covered by these insurance policies but TCF can advise on a case by case basis. Where it is not available our standard BHR will simply be a stand-alone service.

Our Standards

  • Rigorous training programme.
  • TCF operate a 100% audit system whereby members of the senior management team audit every report before it is sent to our instructing client.
  • All screen grabs are time and date stamped with no member of the credit hire team including senior management having the ability to alter their work stations time and date settings.
  • Instructing clients are free to audit TCF as often as they require and also by whatever means suits them best whether that be by a site visit, a remote audit or collating the information to be audited by a third party of their choice.

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