Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • AndyBSG
    • By AndyBSG 7th Oct 16, 10:53 AM
    • 816Posts
    • 1,002Thanks
    AndyBSG
    Insurance Excess Question
    • #1
    • 7th Oct 16, 10:53 AM
    Insurance Excess Question 7th Oct 16 at 10:53 AM
    Hopefully a simple one to answer.

    I reversed into a car in a car park.

    The other vehicle had a fair bit of damage to the bumper and mine just had a few scratches.

    The other person claimed on my insurance with me at fault, I didn't claim for my damage as I simply polished the scratch out with a bit of T-Cut.

    I have a £250 excess on my policy and have been waiting for my insurance to contact me regarding this.

    It's been a while and my brother has said he 'thinks' that the excess only applies to claims I make and that for third party damage I won't pay the excess.

    Is this true or should I be contacting my insurance to ask when i've got to pay the £250?
Page 1
    • Fat Walt
    • By Fat Walt 7th Oct 16, 10:56 AM
    • 602 Posts
    • 327 Thanks
    Fat Walt
    • #2
    • 7th Oct 16, 10:56 AM
    • #2
    • 7th Oct 16, 10:56 AM
    Your brother is right, the excess will not apply as you haven't claimed.
    • marlot
    • By marlot 7th Oct 16, 10:57 AM
    • 2,820 Posts
    • 1,949 Thanks
    marlot
    • #3
    • 7th Oct 16, 10:57 AM
    • #3
    • 7th Oct 16, 10:57 AM
    There's normally no excess to pay on third party claims.
    • foxy-stoat
    • By foxy-stoat 7th Oct 16, 11:45 AM
    • 1,175 Posts
    • 650 Thanks
    foxy-stoat
    • #4
    • 7th Oct 16, 11:45 AM
    • #4
    • 7th Oct 16, 11:45 AM
    A quick read of the policy schedule and booklet would tell you that the excess does not apply to third party claims.
    • Aretnap
    • By Aretnap 7th Oct 16, 1:03 PM
    • 2,428 Posts
    • 1,901 Thanks
    Aretnap
    • #5
    • 7th Oct 16, 1:03 PM
    • #5
    • 7th Oct 16, 1:03 PM
    A very small number of insurers (XS Direct are the only one I could name) do apply the excess to all types of claim, but they're very much a minority, and generally at the more "specialist" end of the market. If you have a standard policy with a household name insurer you will almost certainly have no excess to pay on a third party claim.
    • foxy-stoat
    • By foxy-stoat 7th Oct 16, 2:32 PM
    • 1,175 Posts
    • 650 Thanks
    foxy-stoat
    • #6
    • 7th Oct 16, 2:32 PM
    • #6
    • 7th Oct 16, 2:32 PM
    A very small number of insurers (XS Direct are the only one I could name) do apply the excess to all types of claim, but they're very much a minority, and generally at the more "specialist" end of the market. If you have a standard policy with a household name insurer you will almost certainly have no excess to pay on a third party claim.
    Originally posted by Aretnap
    Looks like noone who drives in the UK would take out a policy from these people unless they are uninsurable and shouldnt be on the road. The policy gives the underwriter an option to claim upto £3000 from the policyholder in the event of an accident for third party claims.

    I hope the premiums are around £50 for the year for this type of cover!
    • Aretnap
    • By Aretnap 7th Oct 16, 10:26 PM
    • 2,428 Posts
    • 1,901 Thanks
    Aretnap
    • #7
    • 7th Oct 16, 10:26 PM
    • #7
    • 7th Oct 16, 10:26 PM
    Looks like noone who drives in the UK would take out a policy from these people unless they are uninsurable and shouldnt be on the road. The policy gives the underwriter an option to claim upto £3000 from the policyholder in the event of an accident for third party claims.

    I hope the premiums are around £50 for the year for this type of cover!
    Originally posted by foxy-stoat
    Apparently the main target market is young people who drive expensive cars, who (a) get very high quotes from mainstream insurers, (b) are probably just about wealthy enough to have £3000 squeezed out of them if it comes to it and (c) are likely to severely underestimate the risk of having to pay £3000 that they're taking on in return for a slightly cheaper insurance premium.
    • AndyBSG
    • By AndyBSG 10th Oct 16, 10:39 AM
    • 816 Posts
    • 1,002 Thanks
    AndyBSG
    • #8
    • 10th Oct 16, 10:39 AM
    • #8
    • 10th Oct 16, 10:39 AM
    Cheers for the feedback guys.

    Called up my insurance and asked and they confirmed all that you've said... So, that's £250 I thought I had to pay but now don't!
    • Ant555
    • By Ant555 10th Oct 16, 1:41 PM
    • 552 Posts
    • 198 Thanks
    Ant555
    • #9
    • 10th Oct 16, 1:41 PM
    • #9
    • 10th Oct 16, 1:41 PM
    Called up my insurance and asked and they confirmed all that you've said... So, that's £250 I thought I had to pay but now don't!
    Originally posted by AndyBSG
    ... yet!

    However, I wonder what a claim will do to your next renewal quote - especially if you have reasonably high NCB at the moment? Maybe hit the comparison sites and get an idea if you put in your details with the (newly increased) number of claims to get an idea.
    Last edited by Ant555; 10-10-2016 at 1:50 PM.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

332Posts Today

1,382Users online

Martin's Twitter