If something goes wrong at your property, and you need to make a claim on your landlords insurance, you pay an excess before your insurance policy kicks in to cover the rest of the cost. You choose how much to set your excess at - and generally the higher it is the lower the premium you have to pay on your insurance policy.
There are some events, though, where it’s compulsory for you to set your excess at a full £1,000 - for instance subsidence, ground heave or landslip claims.
If you don’t want to have to pay that excess, you can pay a bit more to protect it. With our excess protection, once you’ve paid out, when everything is fixed and your insurance claim is all settled, you can put in another claim to get your excess back.
- Reimbursement for the excess you paid on a settled claim on your landlord insurance policy. Which means you can only get your excess payment back after your claim has been settled.
- Reimbursement for the £1,000 compulsory excess you have to pay for subsidence, ground heave or landslip claims. So basically we won’t quibble about paying you back when the excess is automatically set higher for these major events.
- Any number of claims in a year, up to the limit of your excess protection policy. So if you set your excess protection at £1,000, you can make lots of smaller claims – eg. five claims of £200 - up to the £1,000 limit.
Things we won’t cover:
- We’ll only pay you back your excess payment if the claim was greater than the excess itself. So if whatever’s happened costs less to fix than your excess, we can’t reimburse you.
- We will pay you back the excess amount you’ve set, and had to pay. That means if your excess is set at £200, and you have excess protection at £1,000, we’ll pay you back your £200 - and you’ll still have £800 left on your excess protection policy to cover you for the rest of the year.
- We can only reimburse one claim for the compulsory £1,000 excess over your 12 month cover period.
- Excess protection is taken out on the excess you have chosen for your buildings or contents insurance.
Our excess protection cover starts at £25.00 for 12 months - which equates to just over £2 per month.