Any customers preferred business insurance excess would of course be very low, the isnurers preferred excess would be the opposite. Most policies will have an excess for all types of claims, except employers liability insurance. As far as EL is concerned, an excess cannot be applied. One large insurer, that was not authorised or approved by the UK Financial Service Authority used to appy excesses, which we always thought was incorrect.

But, for your common or garden package policy for contents, stock, glass etc, what is a reasonable excess? The reason we are talking about this is that there are many insurers that are not only increasing their premiums, but also their excesses as well. Where we would have seen an excess of £250 some renewals are coming through with £500 excesses which are way too excessive. When we get these, we look around for alternatives and so should you.

A sensible and reasonable excess would be £200 to £250 for property damage, ie contents, stock and commercial building insurance. Glass claims should have a lower excess in the region of £100-£250.

When you get your renewal, you need to look very carefully as we are finding some insurers, not all, are releasing renewals with additional excesses noted in the small print and certain brokers are not advising clients of this.

If you have had an excessive increase to your excess, please call us to discuss and we will see what we can do to help you.

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