Building & Contents Excess cover

What is EXCESS insurance?

Most insurance policies carry either a compulsory or voluntary excess, which is a fixed amount that you must pay out if you make a claim on your insurance policy. Progressively, insurance companies have increased premiums higher than inflation rises, so it is now common for them to also impose higher excesses, which can mean that for relatively minor claim you may end up paying large amount towards the claim due to the excess amount on your policy.


As an example, if your claim is £900 and your policy excess is £500, your insurance provider will pay only £400 of the cost, leaving you to make up the balance of £500. This is where excess protect adds real value to you, an excess protection policy will pay you back the excess premium you have had to pay, in the example above £500.

It is common for voluntary policy excesses to affect the premiums charged on the main insurance policy e.g. a higher excess is less risk to the main insurer, which means that the main insurer may drop the cost of the insurance. It is worth checking if a combination of the two can reduce your overall insurance costs i.e. that if you choose a higher excess and insure that excess as well, you may be better off overall; even so, you will always be liable to pay the policy excess unless you have it insured.

Home Buildings and Contents XS

It is payable following a successful fault-based claim in relation to each settled claim up to the annual aggregate limit of your XS policy, in respect of claims arising from accidental damage, fire, theft, flood or vandalism. Cover benefit provided is up to £2000.