Hey Guys,
I'm currently trying to get insurance on a high performace car. As I have not built up any no claims bonus with any company it is practically impossible to get my own insurance policy on ths car. The only company that will give it to me are XS Direct - (from ) and I have got a fantastic price from them - just over a grand. The only problem is that there is a €4,000 excess, which means that if I crash I have to fork out the first 4k. This is a pretty big risk but really if you had a small crash on a normal policy you're going to end up getting a hike in your premium for the next few years anyway, so it just depends which way you want to pay for it....
However, it was suggested to me by a friend that used to work in Insurance that you can "Insure the Excess". He said you can pretty much insure anything. So this way you pay a small premium to insure against the possibility of having a crash, and if you do you are covered for the 4k!
Can anyonr tell me if this is really possible and how I would go about doing it?
Thanks
Colly.