How much excess do you agree to pay if making a claim from insurance?

ColdAsIce · 18 Mar 2012 at 01:38

When I first started driving, I used to agree to pay a large excess which would bring the insurance cost down. Was never going to claim on the insurance anyway for my own car, as it was just a cheap fiesta.

I now have 8 years no claims and due for renewal next month. How much roughly would having no excess to pay, add to the insurance bill?

Begbie · 18 Mar 2012 at 03:52

Can you have an excess free insurance?

bledd · 18 Mar 2012 at 04:27

How long is a piece of string?

DBT85 · 18 Mar 2012 at 06:59

Just do different quotes and see?

I think mine is still £200

Mercenary Keyboard Warrior · 18 Mar 2012 at 10:27

Worth trying each excess with each insurer. It can make quite a diff and the discount for optional excesses will not be the same across each insurer.

PMKeates · 18 Mar 2012 at 11:58

bledd. said:
How long is a piece of string?

Exactly!

I personally have a ~£1000 excess. It works out well as it drops the premium a fair bit. In the event of an accident I can get most repairs for virtually nothing, and in the event of a total loss my GAP generates a £6000+ windfall, so I'd barely notice!

MikeHiow · 18 Mar 2012 at 12:02

I have £1000 on the Clio, as it was cheaper than TPFT.

On the Focus I paid £25 for some excess insurance, which covers up to £500, so it was set to whatever made £500 including the mandatory excess.

No idea if the excess insurance is worth it or not - it's likely I'd only claim in the event of a total loss anyway.

Fuzz · 18 Mar 2012 at 12:41

I always ask for the maximum excess possible. As you say, I'm never going to claim on the crates I drive around in. I want to pay as little as humanly possible for insurance.

This years quote which I've just sorted to start on the 24th March.. £155 quid

(also 8 years no claims)

Slumberbox · 18 Mar 2012 at 14:05

PMKeates said:
Exactly!

I personally have a ~£1000 excess. It works out well as it drops the premium a fair bit. In the event of an accident I can get most repairs for virtually nothing, and in the event of a total loss my GAP generates a £6000+ windfall, so I'd barely notice!

I found an excess of 500 - 1000 maybe knocks off £60 from the premium, not worth it IMO. As for getting repairs to a BMW for virtually nothing :confused:

PMKeates · 18 Mar 2012 at 14:12

Slumberbox said:
I found an excess of 500 - 1000 maybe knocks off £60 from the premium, not worth it IMO. As for getting repairs to a BMW for virtually nothing

My insurance premium is in the thousands, so my potential saving from a high excess is larger than yours; my loading will be higher as the insurance companies think I'm a higher risk than you are. My opinion of my risk differs, and so I take a gamble on myself.

Regarding repairs, it doesn't cost a lot to have work done if you get it done for below trade 'mates rates'; my dad has worked as a car dealer for over 25, and so has a bunch of people that will help him out because of the volume of work he has put their way over the decades. BMW parts are also quite cheap if something can't be repaired.