Excess protect insurance or as sometimes referred to as Excess Buyback is a product that can be utilised in a number of different ways.


Some brokers have a concern selling excess protect insurance products as an add-on however the key is to sell excess protect insurance correctly i.e. this refunds the excess paid on the underlying product. If the claim is under the Policy excess then no payment will be made as there would not have been a claim paid on the underlying Policy.

Secondary some brokers have found that the excess protect insurance has enabled them to save the day!

A broker had an existing client with a nominal excess of £250 however upon adding a young driver the excess was increased to £650. This was unacceptable to the client who threatened to cancel and go elsewhere. The broker offered a £400 excess protect insurance Policy at net rate (£17.00) which diffused the objection and retained the business for the broker.

Finally, the long standing client who says that they are really sorry but they have got a far cheaper quote on line so will not be renewing. In the resulting conversation they admit that the £750 excess is higher than they would like but the premium is the important factor. There is an opportunity to offer excess protect insurance as a standalone product that keeps your “foot in the door” for next year!

The new web based portal makes transacting business so easy, Chris Geldart of G. A Geldart & Co Ltd, York says the portal “really works well” and adds “customers think it is a marvellous addition to their underlying Policy.”

Acasta Europe offer excess protect insurance in convenient increments from £100 up to £2,000 for a range of Insurance policies including Private Motor, Commercial Motor (up to 7.5T), Taxi, Motor Trade, Household, Private Medical & Lifestyle. With net rates starting as low as £8.00 per annum excess protection insurance offers an added value to your client.

For further information or to contact Acasta Europe Ltd, click here.

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