It is the UK’s closest continental neighbour, so it is hardly surprising that so many British drivers venture onto French roads each year – whether they are taking their own car or hiring one once they have crossed the Channel.
Ever wondered why your motor insurance always carries a so-called compulsory excess if you have to make a claim? Have you asked yourself why you might agree to a higher, voluntary excess? Have you considered protecting your liability for paying an excess?
Sometimes a financial services product cuts right through the jargon and says very simply what it is all about. Just such an example is excess insurance – which does just what it says on the can and insures you against your liability for paying an excess when making an insurance claim.
As the government backed Money Advice Service (https://www.moneyadviceservice.org.uk/en/articles/car-insurance-how-to-get-the-best-deal ) points out, the cost of insurance has risen fairly steadily in recent years and there is little sign of that trend slowing or reversing any time soon.
There are changes ahead for some of the car hire businesses in Spain where rental vehicles that previously attracted no excess will now do so.
With the cold days and long winter nights still with us, it might be difficult to believe that spring is just around the corner. And with spring and summer of course comes a whole new year of outings, trips and holidays at home and abroad
Anyone who has arranged motor insurance for their car is likely to be aware of the excess that comes with the policy – there is likely to be a compulsory excess and the insurer is also likely to ask whether you want to accept a further, voluntary excess.
A reader’s complaint published in the Telegraph newspaper earlier this year outlined what was described as the “scare tactics” used by a European car rental company in effectively forcing upon a customer the company’s own excess protection insurance.
Here is a quick summarised overview of just how excess cover policies might help you to save money.