Insurance Optional Extras
Insurance can feel overwhelming, not least when you get down to the ‘optional extras’ menu. So which Optional Extras should you know about and what impact could they have on your cover? Optional Extras are a way for you to personalise your insurance cover in order to suit your personal needs and we’ve rounded up the key extras we offer to help you work out what is most relevant for you.
Breakdown Cover is the most familiar optional extra, and unfortunately many of us will already have found ourselves in a situation that has left us stranded. If so, we know it’s less than ideal, so planning for some breakdown cover in the event of a roadside problem can make all the difference. Whether your battery dies, your tyre punctures, or any other engine problem leaves you stuck, this type of cover will provide you with roadside assistance any time of the day or night.
‘Excess’ is a word you hear frequently in relation to your insurance cover. It relates to the amount of money you will be expected to contribute in the event of a claim. Your excess amount depends on your policy and will contribute to the overall costs covered by your insurer. Excess Protect provides that this excess amount is repaid to you in the case of a fault claim. That means that when there is no third party to claim against, you initially cover your excess amount and then the Excess Protect part of your policy will allow you to claim this amount back.
Gap cover (aka Guaranteed Asset Protection Insurance) is particularly helpful for individuals who have purchased a new car and/or are paying off the cost of a car. In the case of your car being written off, Gap cover will offer you the difference between the amount you initially paid for your vehicle, and the insurer’s total loss settlement based on current value at the time of any accident. Given the rapid rate of vehicle depreciation, this can be a very useful extra to consider. It’s particularly relevant if you are committed to a monthly payment scheme over a number of years, as these payments would not cease in the event of the vehicle being damaged or written off in an accident, as they are effectively paying off a loan to the value of your initial purchase price. This one’s scary but well worth considering.
Instances of home ‘emergency’ are broad, whether it is the case of burst pipes, a break in, a boiler breaking down, blocked drain or electrical failures (your policy will detail all inclusions), and unfortunately most of us will fall foul to such a situation at some point. Home Emergency cover provides assistance in dealing with these occurrences, covering costs and making sure the property is safe and secure to stay in.
In case you have to cover large expenses relating to legal costs borne through personal injury, consumer contracts, legal defence, or domestic property protection, Legal Expense cover can represent an invaluable extra. Providing 24/7 legal advice, this cover commits to assistance and expertise for what can be very substantial and unexpected expenses.
14 Day Replacement Car
You may need assistance when you have had an accident in which your vehicle is written off. Either that or you find your car has been vandalised or stolen and not recovered. In this case, 14 Day Replacement car cover will do exactly as it says, and will offer you a replacement vehicle for up to 14 days.
We’ve all been there. Losing the keys to your home, car, or office, and having no recourse to resolve the situation. Key Cover helpfully provides assistance in the event of such a loss, theft, or breakage.
Abbey Insurance Brokers
Whatever your insurance requirement, our Abbey experts are here to offer help and advice with any questions you have. Contact our team on 08000 66 55 44 or request a callback.