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fake carnet? cheaper loosing vehicle than paying for a real one? fake carnet? cheaper loosing vehicle than paying for a real one?
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Trip Paperwork Covers all documentation, carnets, customs and country requirements, how to deal with insurance etc.
Photo by Marc Gibaud, Clouds on Tres Cerros and Mount Fitzroy, Argentinian Patagonia

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Photo by Marc Gibaud,
Clouds on Tres Cerros and
Mount Fitzroy, Argentinian Patagonia



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Old 19 Feb 2014
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Join Date: Sep 2006
Location: Cornwall, in the far southwest of England, UK
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Quote:
Originally Posted by will-dakar View Post
Unfortunately they have stopped the 10% premium due to it know being high risk for them as apparently only 20% of all vehicles are returned.
so you have to pay the full 100% of the insurance premium, do for my £1000 bike =£8000 then 50% back on return.

Here's a link to someone who has just tried getting a carnet and has looked into in better than me

http://www.horizonsunlimited.com/hub...-rip-off-54541
Nope, that doesn’t make sense.

You are still only required to pay 10% (plus IPT) of the indemnity amount as an insurance premium, 50% of which is refundable on return of the correctly discharged Carnet to the RAC. [Link]: See this up-to-date information sheet.

If you had to pay 100% of the indemnity amount then there would be no element of insurance 'risk'. It would, in fact, be almost indistinguishable to a full security deposit (an option which is no longer available with the RAC).

If you default - i.e. sell or abandon your vehicle abroad - then, and only then, will the insurer attempt to recover from you the amount they are obliged to pay-out (on your behalf) to the overseas customs authority.

The exception is when your vehicle is stolen. A Carnet does not cover the duties and taxes payable in the event of loss or theft of a vehicle abroad.
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Last edited by Keith1954; 19 Feb 2014 at 13:50.
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Old 20 Feb 2014
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Location: London and all over West Africa
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^ I agree with Keith above.

I don't know if it is different for independents, but what Keith writes is applicable for our overland truck. But we do use it in West Africa as an overland operator (ie commercial). This was the case as of 3 month ago when we renewed our CDP.
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Old 20 Feb 2014
kim kim is offline
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I think Keith and Hebbo are correct, but I think Hebbo's maths are a little out.

Cost of Bike £1000
Security rate for Egypt (800% of bike) = £8000
Insurance Premium (10% of security rate) = £800 (50% refunded)
Insurance Premium Tax (6% of Insurance Premium) = £48
25 pages CdP - £200
RAC Deposit (refund) - £350

Payable upfront £1398
Refunded £750

Actual Cost £648
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