XS Reimbursement Insurance
“Each year the insurance industry pays out over £12 billion in motor claims and expenses. Each of these claims has an excess element which leaves your client out of pocket.”
It is simple to give full protection from loss with our excess protection policy. How it works: Your client purchases Excess Protection insurance in addition to their motor policy, whether it is for car, van or motorbike.
When they make a valid claim on their motor insurance, they can claim for the excess they are liable for. This is a low-cost option and can help out those drivers who would struggle to find the extra money to repair or replace their vehicle. This insurance is particularly valuable for those with high excesses due to age or previous history.
In discussion with your client, select the level of cover which works best for them. There is a choice of £250, £500 and £1000 annual aggregate limit.
It may be possible to negotiate a reduced premium for your client, by accepting a higher excess, which is then protected with an excess protection policy.
For a claim to be valid, the motor policy must pay out and the claim must be greater than the excess. For example, if your client chooses a £1000 excess and they have an accident, and the repairs came to £900, they will be liable to pay the £900. It is important that you explain to your clients that this is an excess reimbursement policy.
•Drivers receive 100% their claim and do not have to find extra money to cover the excess
• Total cover where the cost of the claim is higher than the client excess
• Possibility of saving money by accepting a higher excess, leading to a lower premium