Car insurance customers urged to cover their excess

Thu, 16 Dec 2010

Motorists have been told that they can bring down the cost of their car insurance by taking out a policy to cover the cost of their excess .

An article appearing on This is Money explains that the excess is the first part of any claim you must pay yourself.

And the more you agree to pay in the event of an accident, the lower your premium.

"Insurer Adding1, charges £39.90 a year for covering a £500 excess. However, you need to be sure taking out this policy would actually be cost effective," the website said.

"For example, a 40-year old man from Milton Keynes driving a Ford Focus would have premiums of £319, if they took a £500 excess, according to comparison site Moneysupermarket."

With no excess, however, they would have premiums of £354 - a difference of just £35.

With more bad weather forecast over the next few days, car insurance providers are preparing themselves for another surge in claims . 
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