The cost of an excess protection policy will typically be proportional to the excess limit you select, but will be a fraction of the excess you’d have to pay in the event of a claim. In fact, policies can start from as little as £20 per year, which can make them excellent value.
However, your premium will depend on the level of cover you choose. To work out if it’s right for you, weigh up the cost of buying excess protection compared to the cost of paying the excess amount should you have to make a claim. The claim amount will always have to be more than the excess amount for an excess protection claim to be valid.