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  • Insurance excess

    Just bought my years insurance for £456. Didnt notice it has a vehicle damage excess in total of £550.

    What are your excesses like? If this is too high do I get a certain amount of time to cancel??

    Starts on 9/12.
    Arden Blue Stage 2 Astra VXR on 19's. Remus, Bluefin, Cruise Control, Tints, Whiteline RARB, Eibach Sportlines.

  • #2
    If you're not happy, you should be able to cancel before the policy starts with a full refund (no penalty).

    Leave it any later than that then the insurance company may charge you a "short term" policy rate which will usually be quite high.

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    • #3
      Mines only £120 totall excess , but then again the premium was only just over £300

      Im with Norwich Union

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      • #4
        Dedends how careful you are (or lucky) Ive known excess's from £200 to £1000 so yours is in the middle. Think mine £350 off the top of my head. Obviously the higher your excess the lower the premium... For some people this is the only way of getting lower premiums....
        Corsa VXR Arden, 18's
        sigpic

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        • #5
          mines is about 750 i think so yours isnt to bad, but my insurance was 1800 in the first place

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          • #6
            I will phone them in morning and threaten to cancel and see what they can offer me!
            Arden Blue Stage 2 Astra VXR on 19's. Remus, Bluefin, Cruise Control, Tints, Whiteline RARB, Eibach Sportlines.

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            • #7
              Originally posted by steve271 View Post
              I will phone them in morning and threaten to cancel and see what they can offer me!
              I'm not sure "threaten" is the right word. Could you not just ask them if it's possible to get a quote for a premium with a lower excess?

              Actually I don't really understand insurance companies:

              Excess: You pay a premium but then have to pay them more if anything happens to your car.

              No claims bonus: As if it isn't bad enough that something has happened to your car, you are penalised further for your bad luck with higher premiums in future years.

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              • #8
                My excess is same as trinaandlee = £120 with Norwich Union with the policy being £257. Insurance companies are like bookmakers they weigh up the odds then give you a price ie age of driver/driving experience/previous driving record/type of car/size of engine ....... etc

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                • #9
                  youll get another quote with a lower excess but itll proably be higher.
                  Higher excesses mean if u claim the insurers outlay is less
                  sigpic

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                  • #10
                    I can confirm that under the FSA guidelines you have 14 days to cancel your policy from inception at no cost if it does not meet your demands and needs.

                    As the sales advisor did not inform you on the excess (unless you did it online) then it clearly does not meet your demands and needs and you may cancel it no questions asked.

                    If they argue with you quote the FSA regulations for demands and needs and refer them to me, I will sort it out for you.

                    Oh I am an insurance broker just so you know.


                    Astra VXR SMD Conversion, a couple of window stickers, front VXR badge and someone stole my rear VX badge!!! TOTALLY PIMPED OUT

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                    • #11
                      I have no voluntary excess and may compulsary excess is £100. This means that my premium was slightly higher but i have only £100 to find as oppsed to 2 or 3 hundred if something happens.

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                      • #12
                        or even £550
                        Arden Blue Stage 2 Astra VXR on 19's. Remus, Bluefin, Cruise Control, Tints, Whiteline RARB, Eibach Sportlines.

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                        • #13
                          Originally posted by steve271 View Post
                          or even £550
                          That is alot, i wouldnt want to be paying that.

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                          • #14
                            well mine 350 compolsery and 350 vol just so the premium wasn't so high but then again i was only 19 with 2 years ncd and 2 years driving

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                            • #15
                              mines £50 accident or £100 thieft.

                              www.courtenaysport.co.uk/ For all your tuning needs

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