Reclaim Your Excess
WHAT IS EXCESS PROTECTION?
When you make an insurance claim you have to pay an ‘excess’.
JCB Insurance can now offer excess protection with the XS cover company – a low-cost, bolt-on insurance policy that allows you to reclaim your excess when you have a claim.
HOW DOES IT WORK?
Mr Johnson buys Excess Protection with a cover level of £1,000.00.
He has a Public Liability claim where the excess is £500.00. Once the claim has been paid (net of the excess) Mr Johnson’s excess of £500 is refunded in full. If he then has a claim in the same year on his Plant policy where the excess is £1,000 once the claim has been paid, Mr Johnson will have £500 of it refunded because he only has £500 of his £1,000 excess protection cover left.
If he had bought £2,500 of cover, the second excess would be refunded in full and there would be £1,000 of unused cover left if he then had a subsequent claim in the same policy year.
The excess cover company’s protection is very affordable and if you have to make a claim it could potentially save you thousands of pounds in excess.
Also, if you take a higher excess on your main insurance, your premium could reduce but the excess would be protected by the XS cover company.
WHAT DOES IT COVER?
The XS cover company’s protection is available to cover your commercial policies*, motor fleet**, personal motor and household.
(* except Professional Indemnity, Directors’ &Officers’ liability, Livestock and Marine)
(** Max 44 tonne GVW)
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