Excess Protection (Underwritten by Inter Partner SA UK Branch Assistance which is fully owned by the AXA Assistance Group) is included as standard in our Premier comprehensive car insurance option and means we’ll reimburse you up to £500 within the policy year for your excess if you’re unable to claim it back from a responsible third party.
Excess charges can make claiming on your car insurance add up, but additional excess cover could help avoid this. With some insurance policies this comes as standard, so it’s worth checking your insurance documents.
First things first - what’s an excess?
An excess is the amount of money that your insurance company asks you to contribute to the overall cost.
The size of the excess payment will depend on your policy. If, for example, you have a policy with a £200 excess and your car requires £600 worth of repair work, then the insurance company will ask you to pay £200 towards the repairs, and fund the remaining £400 itself.
What determines how high my excess is?
Your excess is split into two parts. The first part is the compulsory excess, which is a non-negotiable amount set by your insurance company, based on your age and your car. The second part is the voluntary excess, which you can set yourself. So, for example, if the compulsory excess on your policy is £100, and you set your voluntary excess at £100, you would pay the first £200 of a £600 claim.
Normally, the lower you set your excess, the more expensive your car insurance policy is likely to be.
So what is excess protection?
Excess protection is an additional cover that is included as standard in some car insurance policies, or can be added on to others for a fee. It basically refunds the excess that you have to pay in a claim where there is no responsible third party.
To use the above example again: if your car requires £600 of repair work after a theft claim and you have an insurance policy with a £200 excess, your car insurance would pay out the £400 and you would pay your £200 excess. Then, your additional excess protection would refund the £200 excess you had to pay, so essentially you would pay nothing towards the repairs.
With some policies you can set the maximum amount that your excess protection policy will pay out (usually between £250 and £750). If you need to make a claim on your car insurance, you’ll need to make two separate claims: one to pay for the repair or replacement of your car, and one to refund the excess you paid.
What does excess protection cover me for?
Your excess protection policy would pay out in the event of an accident where there is no responsible third party, and includes fire, theft and vandalism.