Public Liability Insurance

[AerialSolutions]

Can anyone confirm if its the norm to have a £500 excess for their Public Liability Insurance?

Thanks

 

[TheGuru2010]

Whats you occupation? I am assumin aerial installation but could be wrong

 

[AerialSolutions]

Yes we install aerials and satellites at domestic and commercial properties

 

[TheGuru2010]

The excess can vary but it is usually around the £250 mark but i dont think £500 would be unaaceptable, out of intrest how much did you pay for the policy. PM me if you prefer not to discuss on a open forum

 

[AerialSolutions]

Our renewal is £2300

 

[TheGuru2010]

I hope you have alot of staff & a big T/O for that, you already renewed? who is your provider?

 

[AerialSolutions]

We have 4 full time employees plus my partner and me. About to renew on 12th Sept with Axa

 

[TheGuru2010]

If im honest i think you might be paying over the top here, more than happy to give you a second quote.

 

[AerialSolutions]

My broker has just emailed me regarding my query:-

Across all insurers Third Party Property Damage excess is £500, it is very rare that an insurer would have it any lower.
I think it was increased a few years ago following a vast number of claims in this respect

Is she right?

 

[TheGuru2010]

In all honesty she could be on the money there but its hard to say as each insurer does work on a diffrent basis. When she refers to claims does she mean yourself or your industry in general?

 

[AerialSolutions]

Certainly not us! We had one claim last year!!

 

[TheGuru2010]

I have just done a rough quote for a aeriel erector & we have some insurers quoting at a £250 excess & this does include AXA

 

[AerialSolutions]

So what should I do? Go back to her and ask for a 250 excess????

 

[TheGuru2010]

You could do or i could take a overall look and save you some money with a lower Excess

 

[CDAPartnership]

You are aware that you only pay the excess in the event of a claim?

Is this because you wanted a cheaper premium?