Insurance question

[Diablos-666]

I have been offered a seperate insurance policy alongside my car insurance that will cover my excess.

It costs around £50 a year and cover excess' upto £700. This seems like a bloody good deal to me espcially as my excess is £600.

So my question, has anybody else got this or even heard of this, as i'm told its still pretty new?

thanks

[anonymous-user]

What's the excess on the insurance policy to cover the excess?

[Superhoop]

Sounds like a great idea if you're planning to crash your car......

If you don't though, it's just another £50 added to the cost of your policy

[Size Nine Elm]

Diablos-666 said:

I have been offered a seperate insurance policy alongside my car insurance that will cover my excess.

It costs around £50 a year and cover excess' upto £700. This seems like a bloody good deal to me espcially as my excess is £600.

So my question, has anybody else got this or even heard of this, as i'm told its still pretty new?

thanks

So what would have been the additional amount to your premium to have had a reduced excess - say £100?

[Diablos-666]

Superhoop said:
Sounds like a great idea if you're planning to crash your car......

If you don't though, it's just another £50 added to the cost of your policy
What a stupid comment.

- indeed.

I cant get the excess to below £600. It's because im 25 and only had my licence a year and have a focus RS. The cheapest quote i got was £1,100 but with £3k excess! dont think so. So settled for £1,400 with £600 excess.

For £50 i think i might as well go for it. It doesn't seem as though many people have come across it yet.

[anonymous-user]

Size Nine Elm said:

Diablos-666 said:

I have been offered a seperate insurance policy alongside my car insurance that will cover my excess.

It costs around £50 a year and cover excess' upto £700. This seems like a bloody good deal to me espcially as my excess is £600.

So my question, has anybody else got this or even heard of this, as i'm told its still pretty new?

thanks

So what would have been the additional amount to your premium to have had a reduced excess - say £100?

Would depend on OP's age as most have minimum excess based on age with voluntry additional excess.

[matt 2LT]

hmm didn't know you could get this.

i might have a look at these, as my excess is £1100.

[Diablos-666]

only covers excess' upto £700 im afraid.

when i get it down in writing i'll post some more details incase anyone else is interested.

[sinizter]

Diablos-666 said:

only covers excess' upto £700 im afraid.

when i get it down in writing i'll post some more details incase anyone else is interested.

Info would be appreciated. Good to know about the options.

[LadyB]

I'm rather intrigued by this too - wouldn't mind knowing the details of the finer print.

[7 Sevens]

I have heard of this but can't recall who's offering it. Just another way to mitigate a risk which will suit some and not others.

[mcflurry]

Depends if the additional insurance cost to bring your excess down is more than £50 ?

Also, how likely are you to want to claim a small amount anyway?

[Tom H]

I'm a broker and recently started selling this type of product. Ours works on a sum insured basis and either £300, £500 or £1000 worth of cover.

So although my excess is £150 will probably purchase it. Can sell it separately if anyone requires

[wackojacko]

My mother has done the the Insurance for her excess , although there are certain pros and cons that change with different companys so shop around before hand.

If youre a careful driver tho , it can save you a fair bit of money i.e bumping up your excess to lower monthly / yearly premiums. Also some companys do a package that insures your house insurance excess aswel as motor vehicles.

[sy534534]

If you just google "motor excess insurance" you'll come up with lots of options - £75 for a years coverage of £750 excess, with two claims allowed per annum! Sounds a great idea.
Wasn't this discussed on working lunch, or busines lunch, or whatever that BBC2 thing is called, earlier this week? Ideal for young drivers who can't get a low excess.