When arranging car insurance, you will have to pay a compulsory excess that is payable towards the cost of any repair work to your vehicle following the likes of a road traffic accident that you were responsible for. You may also have chosen to pay a voluntary excess to reduce the premium. The excess could vary from as little as say £100 to several thousand pounds depending upon the make and model of vehicle that you are driving.
Excess protection cover is designed to reimburse the policy excess amount that you have paid on your car insurance policy in certain situations.
Some people may be comfortable at having to meet the cost of say a one or two hundred pounds excess towards a motor insurance claim. However, there will probably be fewer people that would be comfortable at having a four or five hundred pound excess to pay on their motor insurance policy.
So, can the motorist do anything about being reimbursed for the amount of the policy excess when they are responsible for a road traffic accident and have claimed on their policy?
Fortunately, potentially there is and it is called Excess Protection Cover.
Excess protection cover is designed to reimburse you for the amount of your compulsory excess and voluntary excess (should you have chosen to arrange the later type of excess) that you have had to initially find from say your savings. You are able to make one claim on an excess protection policy in the twelve-month period that your car insurance policy runs for. You will initially have to meet the cost of the excess yourself and then seek reimbursement from the insurer providing excess protection cover.
You can claim should you be responsible for the likes of an accident that causes accidental damage or should your vehicle be stolen or damaged by fire or if your car is damaged by another driver who cannot be identified.
The cost of excess protection cover will vary depending upon the amount of excess that is being covered but it is something that you may wish to look into to see if you consider it to be a worthwhile option. You may wish to read all the policy details before taking out such cover to make sure that it meets your requirements. There are a number of insurers that provide such cover so you may wish to shop around
