Do You Need Excess Protection? - Smart-Cover.co.uk

Do You Need Excess Protection?

What is excess protection?

Excess protection saves you from paying a high excess. If you make a claim on an existing insurance policy, you are entitled to pay an excess. When you take out a policy you will usually be given two options to choose from, compulsory excess or voluntary excess.

Compulsory excess - When getting a quote from the insurer you will see that some will set a compulsory excess amount, this is an excess amount that you will have to pay if you make a claim, you cannot change this amount as it is set in place and not negotiable. The amount will depend on certain factors for example for a car, the type of car and its age would be considered.

Voluntary excess - This is an amount of excess that you can control and set yourself, some people add extra voluntary excess on top of the compulsory excess as this can reduce your premium, but make sure you pick an amount that you can afford if you do have to make a claim.

How does excess protection work?

Paying excess for an insurance claim can be expensive, excess protection is an insurance policy that recovers the excess costs.

Let’s say you buy car insurance that has an excess of £500, and you damage your car, the damage costs are £2500. You will have to pay £500 towards the claim, and your insurer will pay the rest in order to fix your car. With excess protection you can claim the excess amount of money back.

So, for the £500 excess example, if you paid £90 annually for excess protection, you would save £410 from the claim. This obviously will save you paying a large amount of money.   

If you claim on an insurance policy, you will pay the excess amount that you agreed to when buying your policy, and then the excess insurance will return the money back to you.

How much does Excess Protection cost?

The cost of excess insurance will all depend on the insurer and also the amount of excess that you want covered. For example, if you are protecting a small excess of £100 you could pay as little as £1.50 a month! However, if you’re protecting an excess of £600 you may pay up to £8 a month.

You may be wondering are you really saving money from buying excess protection? The answer is a very big YES! Think about it, from as little as £2 a month you could save hundreds of pounds if you have to claim.

Types of Excess protection:

Single policy – The covers excess on one insurance policy, for example your car.

Lifestyle – This covers the excess on multiple insurance policies, for example your car, gadgets and health.

Excess insurance for car hire:

Excess insurance is great for things like car hire, reason being because car hire companies can make you pay a high excess, due to the risk of damage to the car. If you damage the car during the hire, you may have to pay thousands of pounds excess, which is a substantial amount. Excess insurance will stop you paying this large cost.


Here at Smart-Cover we offer Excess protection from just £1.80 a month. For an excess of £500 you can be protected for just £50 annually saving you £450 if you claim. Get a quote today. https://smart-cover.co.uk/excess-protect-insurance/