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Self Drive Hire Insurance

Self Drive Hire Insurance Image

Self Drive Hire Insurance is suitable for businesses, companies or individuals running vehicle hire services, whereby they hire out their selection of vehicles to members of the public. The Self Drive Hire Insurance is specifically related to the period of hire. The individual hire premium is based on that period and the hirer and any other individuals required to drive during the hire period.

This Self Drive Hire Insurance cover is different from a Motor Traders policy, which is a separate type of cover that insures the vehicles whilst not being hired out. Generally, a vehicle hire business will have both insurance covers in place, to cover their vehicles when they are out on hire, and also to cover them when they are not in use.

To set up a Self Drive Hire business, these are the insurance policies you should be considering:

  • Self Drive Hire Insurance
  • Motor Traders Insurance
  • Business Insurance

If you would like to apply for an account to enable your business to use the INSURECARHIRE facility, please complete and submit our Quotation Request form.

The Vehicle Hirer

The driving experience of the vehicle hirer is very relevant to the cost of the self drive hire insurance, as the hirer risk is a key factor in determining the insurance risk involved. This is used to calculate the premium, provided that the hirer can be insured.

Self Drive Hire Insurance Terms

Things to consider;

  • Type of Driving Licence
  • Driving Experience
  • Previous Accidents or Claims
  • Previous Convictions
  • Usage Required
  • Area of Cover - ie, UK or Foreign Travel

It is important to remember that the vehicles are your responsibility and all relevant checks should be done prior to handing the vehicle over to a hirer. Licences can be checked and verified, through relevant services, as well as checks on the individuals, confirming addresses and identity.

Calculating Insurance Premiums for Self Drive Hire Companies

Self Drive Hire Daily Premium Rates Image

With INSURECARHIRE, we believe it is more beneficial to the self drive hire company to be charged small amounts relevant to the hire periods and the assessed risk of the driver hiring the vehicle, rather than charging one bulk sum for an annual policy. This way, the more the vehicles that are out on hire, the more you pay for your insurance. If business has been quiet for a period, the insurance costs will be reflected by this also.

Vehicle Rental Insurance

The term Rental Vehicle Insurance or Car Rental Insurance are often used within the car hire business, to clarify this term, it simply relates to the same type of Self Drive Hire insurance cover. So if you are requiring any of the following types of cover, insurecarhire can arrange this facility for your business;

  • Vehicle Rental Insurance
  • Car Rental Insurance
  • Van Rental Insurance
  • Hire Car Insurance
  • Self Drive Hire Insurance

insurecarhire - How It Works

INSURECARHIRE is an online trading facility for vehicle rental businesses - which means you only require access to the internet and a printer in order to run your business. You do not require any software, downloads or expensive computers. You are not tied into any contract period.

Once you have your self drive hire INSURECARHIRE account set up with insurecarhire, the facility allows you to upload details of the vehicles you intend hiring out.

On setting up your account, you will be advised of the daily ‘PAY-AS-YOU-GO’ rates. When entering a hire online, the premium for the period will be confirmed. On acceptance, the certificate of insurance can be printed.

When a hirer wishes to rent a vehicle, select from your online account which vehicle is to be hired and add the hirer details, along with the period the hire is required for.

The cost of each hire will be debited from your account balance. It is as simple as that. If the car is returned early and the hire insurance no longer required, the relevant credit will immediately be added to your account balance.

More Than Just Vehicle Rental Insurance...

insurecarhire have been insuring self drive hire businesses and vehicle rental companies for many years. We have developed insurecarhire into an online trading facility with many additional helpful benefits aimed towards the efficient running of a self drive hire business.

The system also allows you access to the following;

  • Rental Agreements
  • Booking Forms
  • Vehicle Inspection Reports
  • Fleet Manager System (with alerts for hire expiring, tax due, mot required, calendar etc.)
  • Telephone Support
  • In-house Claims Team

Types of Vehicles Cover by Self Drive Hire Insurance

Rental Vehicle Insurance - All Car Types Image

insurecarhire can cover almost any type of vehicle, as a general rule, if you hire it, we insure it. We have the unique ability to underwrite risks that may not be described as ‘normal’ risks. We can be flexible and build a daily rate specific to any vehicle rental business model.

These are just some of the types of rental vehicles we insure;

  • Private Cars used for self drive hire
  • Business Cars used for self drive hire
  • MPVs hired out to customers
  • Minibuses hired out for self drive hire
  • Vans rented out for short periods
  • Motorhomes hires
  • Campervans hired for holiday periods
  • Taxis - vehicles rented out for taxi hire
  • Horseboxes rented out to customers

This list is not the only rental vehicles we can insure, so if you have another type of rental vehicle you require to be covered by self drive hire insurance, please contact us directly with details and we will be able to confirm if we can cover it. We have a unique ability to underwrite risks that may not seem like ‘standard’ self drive hire insurance cover and we can form a specific insurance plan to match your required business model.

Motor Trade Insurance

An important term and condition of using the insurecarhire facility is that Off Hire Insurance cover is also in place, to cover the vehicles whilst they are not being hired out.

The vehicle rental business will need to have this cover arranged elsewhere & produce evidence of this cover being in place.


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© Copyright 2024 Ramasis Ltd - All rights reserved. is a trading name of Ramasis Limited who are authorised and regulated by the Financial Conduct Authority - 306294. Ramasis are connected for the purposes of the Insurance Companies Regulations 1994 to Universal Insurance Company (Guernsey) Ltd who is authorised and regulated by the Guernsey Financial Services Commission.