Excess protection is one of the most underrated extensions available in the modern times. You pay a small agreed premium in advance, and in the unfortunate event that you have a bump, regardless of who is at fault, then you can recover your excess once the claim is settled.
Not many people realise it, but this product can effectively pay for itself in essence; by increasing the voluntary excess on the policy, then the premium is reduced accordingly; the excess insurance is sold as an extension product which is then added to the cost of the policy premium which will push it back towards the original figure. So you have the product effectively included in the same price you were going to pay, but now your excess is higher.
Fear not, this is where the beauty of the product comes into play; if you have a claim and are required to pay the excess, you can be reimbursed for the excess paid in full; so it is almost as though you do not have an excess! We understand coughing up the excess is never a pleasant experience, especially when the figure is high. Knowing you will have it reimbursed in due course can take the edge off the financial blow.
PLEASE BE AWARE THAT NOT ALL MENTIONED COVER, FEATURES AND BENEFITS ARE PROVIDED AS STANDARD; SOME MAY BE SUBJECT TO ADDITIONAL PREMIUM, OR SUBJECT TO UNDERWRITERS TERMS AND CONDITIONS. IF YOU REQUIRE ANY SPECIFIC COVER, FEATURE OR BENEFIT ON YOUR POLICY, PLEASE ADVISE DURING QUOTING AND ENSURE THAT THE COVER IS INCLUDED PRIOR TO ACCEPTING THE INSURANCE CONTRACT. CONNECT INSURANCE BROKERS LTD ACCEPT NO LIABILITY SHOULD YOU REQUIRE A FEATURE OF COVER DURING THE POLICY DURATION THAT HAS BEEN OMITTED AS A RESULT OF YOUR FAILURE TO SPECIFY IT’S NECESSITY PRIOR TO INCEPTION. PLEASE BE AWARE THAT CONNECT INSURANCE LTD CANNOT GUARANTEE THE SOLVENCY OF ANY INSURER WE USE.