LUCKO

iTrader: (3)

i have a £500 excess on my insurance policy

i have obtained and taken out a seperate policy which covers my excess up to the value of £500

the basic idea is that i pay an annual premium of just under £60 and the excess insurance will pay the £500 excess twice in the period of 12 months cover should i make a claim whether it be FAULT or non fault

modified cars, imports just passed test whatever it is the price is the same plus you can use it against any private car policy (if you have more than 1)

the broker i work would be willing to offer this same product for any scoobynet member at COST PRICE if you fancy one

policy excess cover can be £100, £200, £300, £400 or £500 and prices are lower for the lower excess cover you have.


regards

Richard

Ginge !

iTrader: (1)

so you pay 60 quid ontop to possibly avoid the excess ?

sounds like paying for insurance twice though depends on what you pay for insurance, im paying 550 this year fully comp, adding a extra 60 quid is alot ontop of the price IMO

LUCKO

iTrader: (3)

if your excess is £500 and you had to pay it to get your car fixed the £60 would seem a bargain i would say

scooby1doo1

iTrader: (7)

sounds like a bargin to me to. If for any reason you have to claim and you paid the £60 exrta for the yr thats just over £1 per week on top of your insurance WOW. But if you dint pay the £1 a week then you be shelling out your access as stated say £500 befor they pay you. Not for me cheers anyway dude.

jonboy0373

Sorry but what company supplies the excess insurance and who underwrites it??

Just seems to good to be true sorry.

wrighty338

iTrader: (33)

sounds good if your going to be paying over £2000 a year like me

Ginge !

iTrader: (1)

yeah but again, how many accidents do you have or expect to have, do this for a few years and its canceled itself out,,,, example i have 5 years no claims, that means ive yet to claim in 5 years,,, i pay 60 quid a year for them 5 years and its cost me 300 quid,,, ive still not had a crash either so its a extra 60 quid per year for nothing, considering that most on here are paying over a grand insurance what ever you get paied out your still gonna be down a grand anyway, a extra 500 quid would be nothing for the amount you expect to claim, personally i wouldnt have a 500 quid excess on a car worth less than 5k either,, but then again im a old sod so im lucky in that respect to have the choice i supose

as for doing it at cost,,,,, that i dont get either as its insurance, there is no cost apart from the money they pay out and thats divided up to make the premium based on risk,,, so "cost" aint the truth,,,, its just a sales term just like charging someone labour on a repair and charging them cost,, cost would be the amount it costs to rent the garage/pay the staff and electricity for the time of labour,,

maybe im just a negative person perhaps

Timwinner

iTrader: (3)

Top tip!!! I will be trying this one myself on renewal day.

Coolasice

not for me srry i pay £340 fully comp with 8 yrs ncb with an exess of £100

urban

iTrader: (1)

I sort of get his point, but my mind sees this simply as insuring your insurance which just seems wrong.

mit

iTrader: (10)

I had a similar policy with my bike. I added a £500 voluntary excess, witch dropped the premium by nearly £100( i had no bike ncb), the excess cover was £45 for the year, so effectively saved £55.

LUCKO

iTrader: (3)

£100 - £16.49
£200 - £25.33
£300 - £37.54
£400 - £48.62
£500 - £57.47

i take on board some points regarding if you dont make a claim but another scenario i have noticed is some people are unwilling to make a claim because excess is so high and end up paying for damage themselves whereas if your not paying the excess you cant really lose i would think

i have 3 cars insured, £500xs Subaru, £275xs Mondeo and £100xs Escort so my one excess policy can be used on any of the policies i have so to me its worthwhile.

hth

Aaron1978

iTrader: (12)

would this work on fleet policies

Aaron

psigeek

iTrader: (17)

Hmmm, can you point out a website please?

Roger.m.

hi mate whos that with if you dont mind me askin please ?

legacytt

i pay £329 fully comp with £150 excess so not for me thanks.