Insurance excess insurance..

[CB125T]

Hope that makes sense

Anyone ever used this before? http://www.insure4excess.com/motorExcess.asp?curID...

Can't decide if it's worth it or not.

[Northernchimp]

What is the excess on this? And how will you mitigate it?

[ohtari]

I wasn't even aware that this is a thing!

[zeduffman]

said:

2: This insurance only applies if the excess is under a motor insurance policy (as defined in Section 3) which has been taken out by you for a private motor vehicle (not a commercial vehicle or invalid carriages) and only for Social Domestic and Pleasure or Class One Business use.

No good if you commute then...

[Tc24]

zeduffman said:

No good if you commute then...

Doesn't class one business use encompass commuting, and extends to travelling to a number of places of work?

[HertsBiker]

I have it well worth getting if you can afford it. Actually if you can't afford, you need it, because your excess could be 20 times the protection cost!

[vikingaero]

HertsBiker said:

I have it well worth getting if you can afford it. Actually if you can't afford, you need it, because your excess could be 20 times the protection cost!

Premiums are better value for higher excesses.

If you can afford it you can probably afford a low excess of £100/£150 or £250.

If you can't afford it, you might need it but you can't afford your excess either! In which case you're on the borderline running a vehicle and might need to evaluate getting other modes of transport.

[creampuff]

ohtari said:

I wasn't even aware that this is a thing!

Insurance for the excess of the excess insurance

[CB125T]

My excess is going to be £600/700, so reckon it's worth it?

Is it definitely not covered for commuting purposes?

[ohtari]

CB125T said:

My excess is going to be £600/700, so reckon it's worth it?

Is it definitely not covered for commuting purposes?

Let me get this straight...

You jacked up the voluntary excess in order to get a reduced premium. But now you're worried about said excess, and are considering an insurance policy on the excess of your insurance policy. This insurance policy is going to cost you money, because you tried to save money by increasing the excess on your insurance policy.

Why don't you just consider not crashing?

[backwoodsman]

ohtari said:

I wasn't even aware that this is a thing!

Neither was I, It's one of those strange thing, like tyre insurance.

[vikingaero]

ohtari said:

Let me get this straight...

You jacked up the voluntary excess in order to get a reduced premium. But now you're worried about said excess, and are considering an insurance policy on the excess of your insurance policy. This insurance policy is going to cost you money, because you tried to save money by increasing the excess on your insurance policy.

Why don't you just consider not crashing?

Not everyone gets low compulsory excesses because of age/occupation/location/car. So some may have a £750 compulsory excess forced on them.