Our Frequently Asked Questions are back – and this time we’re going to talk about deposits. Refundable deposits are probably the topic we get asked about most often, which means it’s time to take a closer look. We’ll explain how they work, why we collect them and how long the money takes to be returned to your account.
What’s the purpose of the refundable deposit?
The refundable deposit is our kind of insurance. The amount is equal to the minimum of insurance deductible, and we collect it in order to cover the deductible in the case of an insurance event, if there’s a difference between fuel level at the beginning and end of the rental period, or if there are any kind of fines, such as those for returning the car late.
How much is the refundable deposit?
It depends on your insurance. With basic insurance, we collect 5,000 CZK refundable deposit, with premium insurance, it’s 1,000 CZK.
When is the deposit charged?
The deposit will be debited from the driver when the first owner confirms the loan in the application. The rental costs, premium or standard insurance and optional third-party liability insurance amounts will also be deducted along with the deposit. Until the owner confirms the demand, nothing will be taken from your account. On the other hand, if the owner confirms a loan and the requesting driver does not have enough money availiable on their card, the request will be canceled within 24 hours. If this does happen to you, however, you have the whole 24 hours to resolve the situation and provide a means of payment with the necessary funds, or maybe you just need to set higher limits for internet transactions on your existing card.
When is the deposit refunded to the driver?
If the vehicle was returned without any problems, the deposit is automatically refunded within three working days through the Braintree payment gateway. From that point, it’s all up to the driver’s bank. We have no way to influence the time it takes for your bank to put the money back into your account. It’s usually done the next day, but some banks take two or more days to credit the money to your account.
It is important to note that returning a deposit is not a transaction between two banks, but instead between a bank and a payment gateway. For this reason it can take up to 7 working days after the car has been successfully returned for the refund to be completed. Once our system has made the payment, we have no way to influence the process.
Can the refund be delayed by HoppyGo?
It can. If there is any kind of problem during the rental or when returning the car, we have the right to withhold the deposit until the problem is resolved successfully. Then, we return the deposit according to the standard procedure described in the previous paragraph.
Is the deposit always returned in full?
If there were no problems during the rental period and the car was returned with the appropriate fuel level, then yes. If the driver needs to prolong the rental, if there is any damage to the vehicle, or if the car is returned with less fuel than it was handed over with, we deduct the appropriate amount from the deposit and return the rest via the standard procedure. If the deposit is insufficient to cover the additional costs, the system automatically calculates, and charges, the remainder.
We’ve added a lot of new users and many of you are asking us the same questions. What insurance options do we have, what are the differences between them, what do they cover, and why should drivers also order liability insurance? We will address all of these below.
Basic vs. Premium insurance
With our insurance, here’s how it goes. Insurance is always negotiated for the rental period of the car and is valid from the moment we receive a message from you that the payment for a rental is in order.
Drivers have a choice of two types of insurance: basic or premium. So, what’s the difference between them? With the basic insurance you have to pay a refundable deposit of 5000 CZK and in case of an insured event you will have a 10% deduction with a minimum payment of 10 000 CZK. Alternately, with premium insurance you will pay a refundable deposit of 1000 CZK and in case of an insured event, a deduction of 5% with a minimum 5,000 CZK. Both types of insurance are subject to a fee based on the current market value of the car and whether the vehicle falls into the category of regular or luxury car.
What is covered with insurance?
Let’s take a look:
1. Collision insurance – it covers everything from the collision, “Act of God” insurance: fire damage, explosion, lightning, hail, gale, falling debris, flooding, and acts from other persons (i.e. vandalism, theft of the vehicle and fraud insurance.)
2. Vehicle glass insurance – all of the glass on the car. If it is possible to repair the damage, you can even avoid paying a deductible. Just go to a certified service provider. However, if the window needs to be replaced, the maximum amount is limited to 10,000 CZK, with a deductible of 500 CZK.
3. Vehicle Replacement Insurance – In case you need it as a replacement for a car rented by HoppyGo. Again, the maximum amount is limited to 10,000 CZK, with a deductible of 500 CZK.
4. Driver Assistance – this includes: towing a car to the nearest service station or repairing it onsite, providing alternative transport, accommodation at the location of the insured event, or the cost of traveling back home. Also, legal and interpreting service when needed, spare parts provision or even financial distress assistance related to an insured event (abroad only) with a rental. Fulfillment limit of 10,000 CZK.
What is liability insurance, and do I really need it?
Liability insurance, also known as “oh crap insurance”, covers inconveniences such as spilled coffee in the interior, a punctured tire, lost car keys, or the exchange of fuel in the tank, all up to CZK 50,000.
Does this seem unnecessary? Let’s review at the numbers. This insurance costs 100 CZK per day, and even something as simple as cleaning the interior of a car, or the production of new keys, can sometimes run into the several thousand crowns.
What our insurance does not include:
The only insurance that is excluded from our services is the third-party insurance that is provided through the owner with his / her insurance company under applicable law(s).
Where can I find the green card?
The owner is obliged to give you the “green card” as well as the “small technical” document during the handover of the vehicle.
What if the owner doesn’t want to rent a HoppyGo car?
This is, of course, his choice. If he proves that his insurance contract allows the car to be rented, we have no problem with it. However, it is necessary to bear in mind that all the problem solving remains with the owner and the driver and we are not responsible for the handling of the insured events. Drivers must then be aware that the terms of their own insurance policies may differ from the standard terms of the HoppyGo insurance. You can find more detailed information directly from the car owner.
How to report an insured event?
If you are involved in a traffic accident, contact the owner of the car in advance to report an accident to his insurance company.
If it is an event covered by our insurance, inform the owner of the car and then our call center. You can contact us through our Infoline, at +420 220 311 769 and then just press the 3 to get connected to us.
Do you have any other question for us ? Email us at info@hoppygo.com.
This article is not a binding legal document, it is only a brief statement of terms. For specific terms and conditions, please refer to the General Terms and Conditions of Insurance on the General Terms and Conditions page.