Good afternoon to you all, Today I would like to talk about policy excesses. Fantastic I hear you cry!
An excess will likely only become known to you when you need to claim on your insurance. It may come as somewhat of a shock if you were not prepared for or even aware that it existed at all. So let me try
and help you, as brokers we
point out the total excesses you have on your Motor Insurance Policy with us.
If
you are undertaking a quote yourself you may have hidden away extra
excesses that you are not fully aware of at the time you take out the
policy on line etc.
On motor insurance there are generally two types of Excess.
- Compulsory Excess
- Voluntary Excess
Compulsory excesses are as the name suggests a compulsory excess charged by an insurer. Voluntary excesses also as the name suggests are (usually) optional and may result in a discounted premium.
Both the voluntary and compulsory excesses must be paid in the event of a claim which can cause the unsuspecting motorist out at a time when they are most vulnerable.
The moral of this tale is to use a Broker we will explain the cover to you and you can talk to us or visit our office to speak to the same person
each time.
Philip Beckett Dip CII Cert PFS.
The Insurance Centre Limited.
01603 400755
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