Extras when buying car insurance: excess waiver worthwhile?
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Written on: 03.11.2009 [11:28]
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Payam
Payam
Topic creator
Posts: 2
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Do you think that there's any point investing in the optional extras that the insurers offer? Am buying car insurance & excess waiver was highlighted as a great deal... Is it a good idea or a waste of money? |
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Written on: 05.11.2009 [17:19]
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Gracie
Gracie
Posts: 3
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Some people think that it's a waste to spend so much 'more' on their car insurance by agreeing to pay the waiver, but then it may be worth it in the end if it saves you money when you have to claim! In some ways this is the age old question as with any kind of insurance... it may seem like a waste of money sometimes, but if something goes wrong then it comes in pretty handy! The good thing about the excess waiver is, if you can afford the slightly higher payments, then you know that if you need to claim you can get your money without having to pay something first. You may want to work out whether the potential saving really makes it worthwhile... for example, if your excess is £100 but the excess waiver costs you an extra £8 a month, you're paying £96 a year: after the first twelve months, it would have worked out cheaper to just pay the excess if necessary! |
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Written on: 13.11.2009 [11:46]
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Boss
Boss
Posts: 3
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I dont think its worth it. Every time you claim on your insurance you lose your no claims and your premium for the next year goes up. So what if you pay extra to not have to pay for the excess, you will end up paying more back to them by claiming. Nothing is ever for free  if it seems good for you then ask yourself what are they getting out of it?
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