Excess Protection Insurance

Differentiating between your sales propositions and those of your competitors isn't easy and can be a major challenge in the current marketplace. Being able to offer a total solution to your clients is highly important. Excess Protection can be a key part of your product portfolio and can help you stand out from your competitors.

Our Excess Protection products are low cost insurance policies that sit alongside your client’s main policy and allows them to reclaim the excess when they claim. In consultation with yourselves, your client selects how much cover they think they might need in any given year. Once they've purchased Excess Protection insurance they can then claim back the excess as many times as they need to during the year, up to the cover limit selected. For example, if the main insurance policy has an excess of £500 and they chose an Excess Protection policy with £1,000 limit, they will be able to claim back the excess twice in one year.

Intermediary benefits include:

  • New source of income - helps you generate additional income.
  • Retention tool - helps offer wider cover at renewal date.
  • Strengthens client relationships - enhances your clients existing policies, providing wider cover.
  • Easy administration - by simple monthly bordereau.

Client benefits include:

  • Risk reduction - the financial risks associated with increased excesses such as for storm or flood covers may be significant. Excess Protection can help offset your clients financial risks.
  • Peace of mind - in the event of a claim policyholders don't want to face the financial effects of their settlement being reduced by an excess amount.
  • Breadth of cover - offers protection against excess contained in main policies.
  • Reduced premiums - some insurance policies offer the opportunity to considerably reduce the premium by opting for a higher voluntary excess.
  • Flexibility - several main policies may be coverable by one excess insurance policy.

Excess Protection is available for:

  • Motor fleet
  • Commercial
  • Motor trade
  • Personal motor
  • Taxi fleet

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