Insuring my car insurance excess

11
Found 1st May
I'm a student so quite tight on money.

Basically, I'm thinking of getting my first car and then choosing the highest voluntary excess possible (about £1k) so that my premium is as low as possible.

Then I'm going to insure the total excess of £1k for about £60/yr.

That works out a lot cheaper for me but is there something I'm missing...if not, I'm going to choose the highest voluntary excess possible.

EDIT: bestpricefs.co.uk/car…nce
this is the website i was looking at guys
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11 Comments
How do you insure the total excess for £60 a year, im pretty sure it wont be covered by companies. If it does work however why isnt everyone doing this?
master1016 m ago

How do you insure the total excess for £60 a year, im pretty sure it wont …How do you insure the total excess for £60 a year, im pretty sure it wont be covered by companies. If it does work however why isnt everyone doing this?


it's already there, although the cost is technically hidden and certainly not fixed at £60. The less voluntary excess the proposer accepts, the higher the premium.
Annual excess insurance for hire vehicles starts at around total £40, but not sure there is an equivalent for owner excess insurance. Example for hire vehicles: reducemyexcess.co.uk/
Play around with the voluntary excess.
Normally you hit an amount where the cost doesn't go down or even starts to increase so jumping to the max isn't always best.

It's also worth paying annually vs monthly as they add a 10-15% premium for monthly payment. If you don't have the cash upfront see if you can get a 0% interest credit card then pay it back monthly.
Edited by: "joedastudd" 1st May
I played around with the voluntary access when i got my insurance. It was the same quote if i have £50 acesss or £500 access.

Higher the access doesnt mean cheaper insurance.

We are paying £620 fully comp on a citreon c1 for myself and partner. My partner passed his test in february. Im on a provisional.
excess protection seems to be a fairly new thing - I understand that it is cost effective for lots of people.
Don't forget you will have a "compulsory excess" in addition to your "voluntary excess " .
My firm sells excess waiver policies usually around £35 for £1k xs. Seems to be a popular add on
I got a free legal cover. They say if you get accident to phone them not the insurance company and they talk you through everything. It says if accident wasn't you fauit then no excess to pay as they get it back. Free motor legal they are called..
Edited by: "wayners" 1st May
Original Poster
master106 h, 43 m ago

How do you insure the total excess for £60 a year, im pretty sure it wont …How do you insure the total excess for £60 a year, im pretty sure it wont be covered by companies. If it does work however why isnt everyone doing this?


check the link i put in the description...that's what i was looking at
Small tip for buying car insurance, which most likely lower your car insurance,
Add a lower risk additional driver (your parents) even if they don’t drive the car, it most likely lower your insurance policy.

I have 10+ years of NCB, but I still get lower premium for adding my mum on to my insurance
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