2007-06-25 02:51:39 · 3 answers · asked by shadow 5 in Business & Finance ➔ Other - Business & Finance
Not if you go fully comprehensive and protect your no claims bonus, well, it does with mine, and i;m with the CoOp.
2007-06-25 03:58:46 · answer #1 · answered by amrhappy1 6 · 1⤊ 0⤋
Higher excess fee will lower the premium. Meaning the insurer only pays the claim's amount after deducting the specified excess fee. Most excess fees are stated upfront before you purchase the insurance and not during claims. Policy holders must understand the excess amount as stated in the policy document. (get an agent to explain the detail). Insurers will apply excess in different product classes. Sometime for the same product class, the sub product class will have different excess amount. Like travel insurance, the overall excess fee may be 100, but for lost baggage can be 150. Excess fee is applicable if the insurer feels that the product that they insured is subject to moral hazard (fraudulent claims) or high risk (too many claims' incident) Hopefully the above info is helpful to u
2016-05-19 22:45:57 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Yes, no, it depends .. READ YOUR CONTRACT...
If you have lost the contract, ask for a copy.
2007-06-26 23:42:59 · answer #3 · answered by Steve B 7 · 1⤊ 0⤋