Industry News from Yes Insurance

Motorists who decide to bump up the excess on their comprehensivecar insurance policy could live to regret the move, it has been suggested.

The British Insurance Brokers' Association stated savings of between £50 and £80 may seem tempting, but added these sorts of savings would pale into insignificance if - in the event of an accident - drivers are forced to shell out hundreds of pounds.

It issued this warning after conducting a poll of brokers that found some 16 per cent of those questioned had noticed more people looking to increase their excess as a result of the economic downturn.

The group stated motorists should not bury their heads in the sand about the possibility of being involved in a collision.

Graeme Trudgill, technical and corporate affairs executive, pointed out: "In the long run people do have claims, that's why insurers exist and some people are going to find a hefty bill if they are going for a big excess."

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