Why do some home insurance quotes show a compulsory and a voluntary excess - HotUKDeals
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Why do some home insurance quotes show a compulsory and a voluntary excess

£0.00 @
whilst others just show one?
secretwoman123 Avatar
5y, 9m agoPosted 5 years, 9 months ago
whilst others just show one?
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secretwoman123 Avatar
5y, 9m agoPosted 5 years, 9 months ago
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#1
because they are two seperate things!?
#2
jasonodell
because they are two seperate things!?

could you explain a little more please?
#3
Taking a vol excess can reduce the premium you pay. So, when you get a quote some companies chuck on a voluntary excess in a move to try and get the cheapest quote. Usually the higher the vol excess you take, the cheaper the premiums can be.
#4
Compulsory excess - Age brackets.

Voluntary excess - Excess you're willing to pay if you crash.

ie,

23 year old, could fall under a £350 excess for age. Regardless of no years claims.

If you'd entered £250 excess, you'd be paying (£350+£250) = £600 for the incident.

Voluntary excess is adjustable to alter the insurance premiums, Compulsory is not.
#5
so you still have to pay both? i just didn't understand why one shows £150 excess, and another show £50 compulsory + £100 voluntary, so both of these are the same excess yeah?
[mod][Mod Team] 3 Likes #6
jasonodell
Voluntary excess - Excess you're willing to pay if you crash.


Have you crashed your home before? :p
#7
Good grief!

Compulsory you have to pay no matter what, voluntary is optional but the more excess you are willing to pay the cheaper the payments will be. Thats why they are shown separately to give the option.

Edited By: cdm22 on Jun 08, 2011 12:24
#8
cdm22
Good grief!

Compulsary you have to pay, voluntary is optional but the more excess you are willing to pay the cheaper the payments will be.


This - if you take a vol excess, any claim you make will be subject to the vol and compulsary excesses added together. If you don't take a voluntary excess, your annual premium will be slightly more but should you make a claim, you will only have the compulsary excess deducted.
#9
cdm22
Good grief!

Compulsory you have to pay no matter what, voluntary is optional but the more excess you are willing to pay the cheaper the payments will be. Thats why they are shown separately to give the option.

it isnt an option, you cannot remove either, hence why i was confused to why its called voluntary, so both the same excess charges should i need to claim, thanks for your help
#10
BeerDrinker
jasonodell
Voluntary excess - Excess you're willing to pay if you crash.


Have you crashed your home before? :p


I take that back, thought it was Motor insurance, i'm still in Morning mode.
#11
secretwoman123
so you still have to pay both? i just didn't understand why one shows £150 excess, and another show £50 compulsory + £100 voluntary, so both of these are the same excess yeah?


I see where you are getting confused now then. Perhaps the one with only the compulsory is not flexible in the amount of excess whereas the other is £50 compulsory and the remainder of the excess can be flexible.


Edited By: greg_68 on Jun 08, 2011 12:54

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