BGL launches new short-term car insurance brand Jaunt
BGL said there is increasing demand for short-term insurance on borrowed vehicles, with people borrowing cars from friends and family for short trips or to move house.
Taking out a temporary car insurance policy means there’s no risk to the driver or owner’s no-claims discount in the event of a claim, and no impact on the annual policy on the vehicle.
The policy’s launch is being supported by an advertising campaign targeting prime London Underground stations and tube carriages, together with a digital campaign. Policies are provided in partnership with Dayinsure and underwritten by Aviva.
Mark Townsend, managing director of BGL’s motor and home portfolio, said: “We’ve designed Jaunt with the customer in mind from the outset. This fun, engaging brand taps into the flexibility today’s drivers are looking for, allowing them to share the use of family and friends’ vehicles safe in the knowledge that they can quickly and simply secure short-term comprehensive insurance whenever they like.
“Taking out a short-term policy through Jaunt will allow customers to take off spontaneously on a weekend break or use a parent’s car while visiting for the weekend, as well as being useful in other scenarios such as moving home, transporting furniture, collecting a new car, sharing long drives or travelling to student accommodation.”
Jaunt isn’t the only brand offering car insurance by the hour or day. Cuvva, the AA, Dayinsure, and the RAC all offer similar policies.
It’s a good idea to shop around if you need this type of policy, as they can work out expensive compared to simply adding a named driver to an existing insurance policy.
For example Jaunt would charge £145 to cover a 45-year-old woman based in South London driving a Peugeot 108 for a week, with a £500 excess.
Rory Stoves, personal finance expert at uSwitch, said: “As with all types of insurance, it really pays to do your homework. Don’t assume that temporary cover is the best option. Speak to your insurer and find out what options they have available. It may be cheaper to be added as a named driver, on someone else’s policy.
“Although it is worth bearing in mind that if you do have to claim, this will affect their no-claims discount and could see their price increase at renewal. It is also worth bearing in mind what the excess on the policy is. Once you have all the information from an existing insurer, run a comparison and see which approach works out cheaper, before committing to taking out a policy.”