What Is Home Excess Insurance & What Does It Cover?
Perhaps one of the most appealing descriptions of what home excess insurance does is that it gives you the confidence to actually claim on the home insurance policy for which you have paid, rather than holding back through fear or reluctance to pay the excess which is invariably charged.
As with many other forms of general insurance, if you make a claim you are likely to make a contribution towards its settlement by way of paying an excess. The difference between home building and contents insurance is that the size of this excess is likely to vary according to the type of claim being made. It might be just £100 or so for accidental damage to some item of contents, for example, or it might be as much as £1,000 or more if you are claiming major repairs for subsidence of the building.
According to the Money Saving Expert in August 2016, home insurance costs have been climbing at a rate of approximately 6% a year and a favourite way of driving down the price of premiums is to accept an additional voluntary excess on top of any compulsory excess attached to your policy.
In the normal course of events, however, this increased amount of excess to pay may prove reason enough not to make a claim for loss or damage – even though you have paid for the protection of home insurance.
Home Excess Insurance
At Bettersafe, our home excess insurance may restore your confidence in making any such claim on any building and contents cover you arranged.
The standalone excess insurance policy works in a very simple and straightforward way by reimbursing you the cost of any excess charged by your main home insurer whenever you make a valid and accepted claim.
Knowing that any excess is already taken care of, you may feel entirely comfortable once again in making a claim – confident in the knowledge that the excess you pay is going to be promptly reimbursed.
Standalone home excess insurance from an independent specialist such as ourselves gives you a further reason to be smiling and confident about the cover which protects your home and its contents. It gives you the confidence of taking on any level of additional voluntary excess and enjoy the full benefit of a reduction in the cost of your premiums. You may do so in the knowledge that the combined compulsory and voluntary excesses you need to pay when making a claim are safely covered by an excess insurance policy – provided, of course, that you have taken out sufficient excess insurance to cover the amount of the contribution you need to make.
Excess protection like this may be arranged very easily through an online application, which is likely to take barely a minute or two. Upon your payment of the single annual premium, all the necessary policy documents may be sent to you by email and cover for your home insurance excess begins straight away. You may breathe again, confident in the knowledge that it is worth making a claim on your main home insurance if the need arises.