The cost of insurance in Israel is skyrocketing, and rental car renters are finding it even more difficult to afford it.
With rents rising at a dizzying pace, many renters are looking for alternatives to traditional car insurance.
The main reason renters have been turning to rental car companies is to reduce the amount of insurance they have to pay for vehicles that they don’t own.
In Israel, the cost of a rental car is often a percentage of the vehicle’s gross vehicle weight, which can range from 0.2% to 4.4%.
If a rental is a luxury car, then the rate is usually higher than that, with an average of 4.9% in 2016.
In many parts of Israel, however, the rental car market is also dominated by luxury cars, which are often less expensive than the cheaper luxury brands.
The latest statistics released by the Insurance Ministry show that a rental can now cost as much as 3.6 million shekels (about $26,600), compared to the 5.6% average price that an average luxury car cost in 2016, according to an analysis by Israeli news site Haaretz.
The most popular rental car brands in Israel are Vauxhall Corsa, Land Rover Discovery, Jaguar XJ, and Mercedes-Benz SLS.
The biggest problem for renters is that rental cars are still relatively expensive compared to other forms of car insurance, and renters can’t always access it without a very good credit history.
In addition, it is not uncommon for renters to pay a large premium for rental cars when they renew their insurance, which in turn increases the cost.
For example, a standard car insurance policy for an average middle-aged man costs around 4.2 million shekel (around $33,600) per year, according the Insurance Institute of Israel (Ili).
That means if a renter earns an average salary of around 2,500 shekeles (around 2,000 dollars) per month, then he would have to put an additional 1.4 million shekes (around 3,600 dollars) in premiums into the rental vehicle.
Renters are also less likely to be able to access their insurance because of the complicated insurance paperwork required for rental vehicles.
For instance, a rental vehicle must be registered with the insurance company, which requires a new vehicle inspection and a test drive, and a claim must be filed with the local police department.
The Insurance Ministry says that for every rental vehicle that is purchased, it will require the vehicle to undergo an additional test drive and undergo additional paperwork, such as a full vehicle inspection, inspection of the brakes, and an engine test.
According to the Insurance Information Center (IIIC), around 20% of rental vehicles are damaged or stolen, and there are around 300 rental car crashes a year.
The Ili report said that renters are increasingly turning to luxury car insurance for the sake of cheaper premiums, with the average rental car cost rising from 3.9 million shekles (approximately $33.8) in 2016 to 4 million she kles (about 4,600 $) per vehicle in 2017.