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Over half of car insurance policies exclude valet parking

09 June 2014

Gocompare.com is warning drivers to check their insurance before handing over their car keys to a valet parking service – or risk picking up the cost of repairs if their vehicle is damaged.

A review of 245* comprehensive car insurance policies by the comparison website revealed that 51% of policies don’t cover ‘damage to the vehicle whilst in the control of valet parking staff’.  That means that if your car is damaged you could be left to pick up the cost of the repairs.

Lee Griffin, spokesman for Gocompare.com Car Insurance, commented: “Valet parking is becoming an increasingly popular option in the UK with many airports, major hotels and entertainment venues now offering a ‘meet and greet’ service.

“It can be a convenient way to park your car, especially at airports where it will save you having to lug heavy suitcases onto an airport shuttle bus.  But before you hand over your keys you need to check the implications for your car insurance and carefully read the valet parking operator’s terms and conditions.

“These will outline what insurance cover, if any, the operator offers, detailing exclusions, limits and excesses.  Generally speaking operators offer very limited cover for damage to your car, which you will need to spot and report to them when you collect your vehicle.  Possessions left in your car are generally excluded.”

Gocompare.com provides additional policy information and product star ratings for car insurance from independent financial researcher Defaqto; allowing customers to compare up to 30 key features for each policy.


Notes to editors:

Source: Defaqto Matrix of 245 comprehensive motor insurance policies - instant and unbiased market and competitor intelligence, from independent financial researcher Defaqto (16 May 2014).