A “polished car” can be provided while your car is repaired and can be financed by your insurance policy or by agreement with the third-party insurer. Courtesy cars are usually “stock” vehicles often provided by the repair garage. They may be offered based on non-fault, shared responsibility and the cause of the accident. If you are liable for splitting and making a mistake, they can be included in your right to your full policy and can therefore be charged for your excess policy. A credit loan vehicle may be hired after an error accident by a credit rental company. It is usually provided on an “identical” basis after the loss of the use of your own vehicle and the payment is subject to a credit contract that you enter with the credit renter. If all goes well, the payment of the rent should be recovered directly by the credit renter of the insurer of the driver (s) it should . In certain circumstances, you may be liable for any taxes collected under the agreement that they cannot recover. The Court of Appeal ruled in favour of English footballer Darren Bent in his ongoing loan dispute with Allianz Insurance.Aston Villa Footballer and Allianz Versicherungsnehmer was involved in a road accident in February 2007 and then hired an Aston Martin DB9, After being referred to the credit rental company Accident Exchange.In a series of legal proceedings, Allianz questioned the length of the rent, the rental rate and the need for rent. In February 2011, judge Plumstead`s judgment meant that Mr. Bent, who wanted to recover $63,000, after recovering the accident stock exchange car at a rate of $573.28 per day – VAT, the recent Court of Appeal judgment that overturned the verdict was described by Accident Exchange as a “victory for good sense”. According to the company, its lordships found that three previous decisions of the House of Lords and a decision of the Court of Appeal had already established the basic principles on which the innocent victim of a road accident can recover the costs – and the amount of that damages – of renting a replacement car on credit terms.
The Office of Fair Trading today published a market study on private car insurance in the UK, which focuses on the provision of third-party vehicles and credit leasing.