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Insurance excess rates are on the rise - and that means bad news for motorists

Peter Kelly
Mar 2, 2020


 

Could you be caught short by an unreasonably high excess figure?

Car insurance excess figures are on the up and rising fast, according to new research conducted by the Mail on Sunday.

The excess in a policy is the amount a motorist must spend on their own vehicle before their insurance will begin to pay out - so a particularly high offer is terrible news for the man on the street.

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Even drivers of much older vehicles are regularly being quoted excesses of more than £3,000 - meaning that in the event of the car being a total write-off, the motorist would receive no pay out in certain circumstances.

Normally, the write-off figure for a car should be around 50% of the car’s value. For example, an eight year old used Ford Fiesta, registered in 2012, should be valued at around £3,500.

But, upon applying for cover through a price comparison website, six insurers came back with excess offers of more than £3,000: a virtually worthless figure given the value of the car in question.

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The average car insurance claim in the UK totals £2,600, so it’s vitally important to keep an eye on what kind of excess your provider is willing to offer you.

And it’s easy to explain why excess totals are on the rise. According to The British Insurance Broker’s Association, providers would rather discourage punters with an unappealing offer than simply refuse to offer cover.

In other words, an unappealing excess offer is a way of getting round providing a ‘no-quote’.

Don’t get left in the lurch by an average insurance offer. Head to A Spokesman Said and search for the best deals for you.

CLICK HERE TO SEE IF YOU CAN GET CHEAPER CAR INSURANCE

Here at A Spokesman Said we love fighting for your rights and believe passionately in natural justice.

But these battles cost us money. You could help us fund these fights by using our price comparison site, A Spokesman Said for your energy, car insurance and household bills.

We’re just the same as Go Compare or any other price comparison site, so you won’t be losing out in any way - by helping us, you will be helping yourself.

Thank you for your support.

 


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Last year 65% of customers didn't switch their car insurance to try and get a better deal.