What is voluntary access --asked by insurance company and how it can reduce my insurance if i opt for it?
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What is voluntary access --asked by insurance company and how it can reduce my insurance if i opt for it?
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please enlighten me how this gonna help me reduce my insurance cost as i am about to insure my bike..thanks
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george i dont get it!!!
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ihaveasexyhusband
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When you buy your insurance, they ask you how much voluntary excess you are prepared to pay. If you need to make a claim on your insurance, eg you came off your bike and it is now a write off, you have to pay some money, the voluntary excess, before they will pay the rest of the monies.
This is to stop people claiming for small amounts of monies from their insurance, for example if you own a car and your excess is £500.00 and it was broken into, your bag was taken and the cost to replace the window and bag was £400.00, you wouldn't be able to claim on the insurance, however, if your excess was £150.00, you would be able to claim from the insurance £250.00 (your excess of £150.00 plus £250.00 equals £400.00) but because your excess was lower, your insurance premium would be higher.
You have to decide what you can afford if your bike was to be damaged and then decide what excess you wish to pay.
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george d
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its voluntary excess and it means however much you put you are willing to pay that amount before the insurance company has to dip into there pockets |
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JOSHUA M
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It looks like a non easy cracking nut,looking around here http://www.InsuranceFreeTip.info/insurance-for-free.htm ,you may find something useful for you. |
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ravenjudge
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if your agent can't or won't explain this, you need to find a better agent. they can either be asking who you will allow to use your bike (not too likely) or what deductible you want (how much are you willing to pay to fix it before they have to pay?) |
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