Yes, the excess and co-payment you choose can affect the overall price of your insurance premium.
Excess is the fixed amount you pay towards a claim before your insurance covers the remaining cost. You can choose from £49, £99, £149, £199, or £249.
Generally, selecting a higher excess can lower your monthly or annual premium, because you are agreeing to contribute more if you make a claim.
Co-payment is the percentage of the claim cost you agree to pay. Available options are 0%, 10%, or 25%.
Choosing a higher co-payment (e.g. 10% or 25%) may reduce the cost of your policy, as you would pay a portion of any approved claim.
Example:
If you selected a £99 excess and 10% co-payment, you would first pay £99, and then 10% of the remaining claim amount, with your insurance covering the rest (subject to policy terms).
Higher excess = lower premium
Higher co-payment = lower premium
Lower excess and 0% co-payment = higher premium but lower cost when claiming
This allows you to choose a balance between lower monthly costs and lower out-of-pocket costs if you make a claim
Choose the deductible that best suits you and your needs. 😊