Wednesday 16 September 2009

Excess insurance could wipe out over £524million of consumers' costs

Got this information from a press release earlier in week, although the release is a few months old, it looks good.

Cash-strapped consumers spend a yearly average of £524million* on motor and home excesses so in a bid to help them recoup their costs on these and other insurances, insure4excess.com has launched a policy that reimburses claimants' payouts to insurers.

Known as Excess Protection, the annual policy covers excess costs incurred on motor, home, travel, pet and private medical insurance policies - ensuring consumers no longer have to 'write off' substantial amounts when making a claim.

Insure4excess underwriters estimate the average excesses for the five most commonly-held policies total around £540. Claimants' liabilities are around £100 for home, travel and private medical insurance, £180 for motor and £60 for pet. More on this here

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