Home Insurance Excess
There are two types of home insurance, home building insurance and home contents insurance. The amount of excess can be quite different depending on the risk being insured.
Types of claims that typically have large claim values, such as subsidence, will normally attract a higher compulsory excess. So for example, you could expect the compulsory excess to be around £75 for accidental damage, and the voluntary excess could go to £250 – meaning the total you would pay in the event of a claim is £325. On the other hand, the compulsory excess for subsidence could be £1,000 with a voluntary excess of £250 meaning you would pay £1,250 if you had to make a claim.
Comparing insurance quotations couldn’t be simpler.
However, it’s important that you understand the compulsory excess amounts and agree sensible additional voluntary excess amounts to be sure that you can afford to pay the combined total excess in the event that you have to make a claim. Why not start a quote now and see how adjusting your excess can make a difference to your premium.