Insurance claim?
Excess to pay?
Did you know it is likely that in the event of a motor insurance claim to repair your vehicle there will be an excess to pay?
What is an excess?
The amount of money that you will need to pay to the insurer should you make a claim on your insurance. Most polices have an excess, with high excess values reducing annual premiums and visa versa. It should be remembered that the reason this reduces your premium is that at the point of making a claim, the amount of excess you will have to pay will be greater. So, when budgeting for your motor insurance, please bear this in mind!
A few facts and figures
- 1 out of 5 drivers have a claim to their vehicle per year
- 1 out of 10 vehicles are hit in a retail or supermarket car park per day
- In only 5% of hit and run cases are the police able to track down the guilty party
- Parked car crashes account for an estimated 700,000 incidents per year
- Of the £1.26 billion in annual repairs the innocent driver has to pick up £169m on their own insurance policies
- The average excess on a motor insurance policy has risen from £250 to £500
About Excess Cover Insurance and how to get covered
You can now insure yourself against the cost of having to pay your motor policy excess with a new product called Excess Protect. Designed to protect you the motorist in the event of a claim under your motor insurance policy, Excess Protect will cover up to two fault claims in any one year for areas such as theft, malicious damage, fire, fault and non-fault claims covered.
Click on the icon below and then select Excess Cover for additional information and to get a quotation.
