My home insurance policy has an excess, what is it?
Most insurance policies require you, the policyholder, to pay the first part of a claim. This is called the policy excess. It is also sometimes called a deductible.
How does the excess work on my insurance policy?
When you make an insurance claim you will be asked to make a contributory payment towards the cost of the claim once the claims has been settled i.e. repairs have been completed or your claim payment from the insurer will be reduced by the amount of the applicable policy excess. Either way you will have to pay part of the claim yourself.
How long does the insurance policy last?
Home Excess insurance is an annual renewable policy.
Is the Home Excess insurance transferrable to another house?
It is not possible to transfer the policy to another house.
Will I still need to buy home insurance?
Yes, Home Excess insurance is supplementary to your home insurance – it covers the excess under your home insurance policy not the home itself.
What is covered under Home Excess insurance?
This depends on the amount of the original policy excess you choose to protect but is usually equal to your existing excess.
Can I protect the excess under an existing home insurance policy?
Yes; you can take out Home Excess insurance at any time. We recommend that you do so when you purchase or renew your home insurance policy.
What happens if the repair cost is less than the excess under my home insurance policy?
If the value of your claim is a lower than the amount of the excess under your home insurance, it will not be covered under either your home insurance policy or your Home Excess insurance.
How does Home Excess insurance work?
Once you purchase Home Excess insurance your original home insurance policy excess is protected. If you make a claim under your home insurance policy, notify us of the claim, keep your receipts and we will reimburse you the amount of your excess.
I do not live in the UK can I purchase a Home Excess insurance policy?
You need to have a UK address to purchase a Home Excess insurance policy.
Who is the insurer of Home Excess insurance?
This insurance is underwritten by certain syndicates of Lloyd’s of London, which is authorised by the Prudential Regulatory Authority and regulated by the Financial Conduct Authority and the Prudential Regulatory Authority.
How do I make a claim?
All claims must be notified to the Claims Administrator, Jubilee Service Solutions, by either telephoning, emailing or writing to them.
For more information please look at the Claims Section here
or refer to your insurance policy document.
How can I cancel my Home Excess insurance?
You may cancel your Home Excess insurance within 14 days of receiving it (cooling-off period) and you will be entitled to a full refund of the premium as long as you have not made and do not intend to make a claim.
You can also cancel at any time after the 14 day cooling-off period and we will make a proportionate refund of the premium paid, as long as you have not made a claim and do not intend to make a claim.
However, any such refund may be subject to an administration charge.
To cancel cover please contact us by writing or emailing to Bettersafe Products Ltd, email address firstname.lastname@example.org
, with your policy reference number, your confirmation you have not nor intend to make a claim and the reason you wish to cancel.
Your premium refund will then be credited back to the debit or credit card you used in the original purchase. This can take up to 10 days to appear on your card statement.
How can I make a complaint?
We aim to provide a high level of service to all our customers but occasionally things can go wrong. When this happens, we will do everything we can to put things right and assist you.
If you wish to make a complaint, please telephone us on +44 (0)20 3740 4431.
For more information on how to complain please look here
or please refer to your policy insurance document.