So can I get a policy without excess?
Yes, you can, there are just fewer of them. The big advantage of such a policy is obviously that in the event that you need to make a claim, you’ll receive back 100% of the money you’re claiming (up to the policy limit). Unfortunately, the lower the excess, typically the more expensive the cover.
So, there’s a balance to be struck. How much cover do you need versus the premium you’re prepared to pay for insurance as well as how much reducing your excess is worth to you in extra premium?
Only you as an individual can decide what balance of the various elements is right for you. What is clear though is that using our simple comparison tool will make deciding a whole lot easier. Not only will you be able to vary the excess amount, but you can also adjust the maximum cover limits for each of the cover types. You can also sort by the Defaqto star rating, to get an idea of the products with the highest ratings.