Excess Insurance is one of the most underrated extensions available to the motor trade industry. You pay a small agreed premium in advance, and in the unfortunate event that you have a bump, regardless of who is at fault, you can recover your excess once the claim is settled. It basically refunds you the excess you pay in the event of a claim.
The benefit of Excess Insurance is that you only need to foot the bill in the short term, and as a motor trader will know, your excess can be pretty high.
If you have a claim and are required to pay the excess, you can be reimbursed for the excess paid in full. We understand that coughing up the excess is never a pleasant experience, especially when the figure is high. Knowing you will have it reimbursed in due course can take the edge off the financial blow.