If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Please note that it is not permitted to have referral links posted in your signature. Keep these links contained in the appropriate forum. Thank you.

https://www.boards.ie/discussion/2055940817/signature-rules

Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

insurance excess

serious3 · 2013-07-30 07:34:22

why do we have an excess on our ins premiums? is it me being cynical thinking its there to make more money from us? surely the whole point of insurance is to protect yourself and other people from incuring a loss?

30-07-2013 7:34am

#1

serious3

Registered Users, Registered Users 2 Posts: 1,026 ✭✭✭

Join Date: November 2010

Posts: 922

why do we have an excess on our ins premiums? is it me being cynical thinking its there to make more money from us? surely the whole point of insurance is to protect yourself and other people from incuring a loss?

0

Comments

#2 30-07-2013 7:36am

Anan1

Registered Users, Registered Users 2 Posts: 22,815 ✭✭✭✭

Join Date: January 2006

Posts: 22303

The higher the excess the more risk is being assumed by the customer, and therefore the lower the premium.

0
#3 30-07-2013 8:17am

djimi

Registered Users, Registered Users 2 Posts: 13,237 ✭✭✭✭

Join Date: September 2006

Posts: 13194

I have always thought that it was usually to stop people putting in nonsense claims for tiny amounts.

0
#4 30-07-2013 8:27am

oldyouth

Closed Accounts Posts: 4,754 ✭✭✭

Join Date: April 2009

Posts: 4680

It's a combination of both of the previous replies

0
#5 30-07-2013 9:07am

the_syco

Registered Users, Registered Users 2 Posts: 37,316 ✭✭✭✭

Join Date: June 2001

Posts: 35244

djimi wrote: »

I have always thought that it was usually to stop people putting in nonsense claims for tiny amounts.

I think it also swings the other way; it helps ensure that stupid little things don't cause claims to be logged against your account.

0