Beware - Tesco Car Insurance (check your paperwork)

zonecrew

Hi

Just be wary when taking out Tesco Bank Car Insurance. Just found out that my policy excess was £725 :eek:

When I took it out on Tesco's site it stated £150 voluntary and no compulsary

It turns out that tesco have two types of policy, a standard and a Value. The value works out a few quid cheaper and i mean a few quid, you could maybe get a sandwich for the price you save. But because its cheaper then Tesco significantly bump up the excess and its not at all clear on their website!

Luckily i managed to cancel within the cooling off period

rudekid48

As soon as you go on the tesco website there is a "Compare Cover Options" button on the left - this is before you even get a quote. It clearly states that the MINIMUM excess on the value product is £475.

Took a couple of seconds to find that........ wonderful thing this interweb....

zonecrew

rudekid48 wrote: »

As soon as you go on the tesco website there is a "Compare Cover Options" button on the left - this is before you even get a quote. It clearly states that the MINIMUM excess on the value product is £475.

Took a couple of seconds to find that........ wonderful thing this interweb....

Suppose it is easy when you go looking for it!

For those of us who choose to go via a comparison site its not so clear. No mention of a £475 excess on these sites AND the policy excess remains at whatever level you have chosen (in my case £150) regardless of if you choose standard or value. Its clearly stated in top right corner! Its only if you scroll down the page and click a link for the page to open up when you see the real cost.

Shame on them tbh, how can they justify it on a supposed Value product!

*Scarlett

Most policies will have a compulsory excess and any voluntary excess will be added to this.

The comparison sites really just give you "suggestions" and the ones that appear at the top usually have higher excesses, more resctrictive cover in order to be cheapest and appear first.

When you go to the insurers website, it is really up to you to check that the offer on the comparison site is suitable for you or amend the cover to suit your needs.

Tescos "Value" products will normally be the least expensive so you would normally expect the cover levels to be lower, excesses higher, etc.

If you took this policy out recently and have just checked the policy docs you may still be within your cooling off period and they could allow you to amend the excess fee but obviously the premium would be higher.

If not, you may just have to live with it for this year. At least you'll know what to look out for next year as excess fees will be one of the things that can have a major impact on premiums.