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Excess Levels as Rating Factor

A

ActEdStudent

Member
You know that whether or not the excess level is compulsory or voluntary for motor is used as a rating factor? Is this because those that choose to have an excess level and pay the lower premium are going to be those that are expecting not to claim that often? Or is there another reason too?
 
Yep, that's pretty much it.

I have a big voluntary excess on my own car policy. I choose it because I'm a damn good driver (even if I say so myself), have never crashed, and I think I can afford to pay a big chunk of any claims myself. Of course, if the car gets nicked, then I'll be fuming...
 
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