Morning Live: Expert shares tips on car insurance

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A recent study found that a fifth of UK adults don’t understand the difference between voluntary and compulsory excess cover. A further one in seven UK adults admit they have no understanding of how excesses on insurance policies work.

Excess amounts are included in car, home and most other kinds of insurance policies as the amount a policy holder is required to pay out themselves before further costs can be claimed from the insurer.

The total excess is made up of a compulsory excess and voluntary excess amount.

The two excesses are added together and must be paid upfront or are deducted from any settlement in the event of a claim.

The compulsory excess is set out by the insurer and cannot be changed.

The voluntary excess is an amount chosen by the policyholder, often in exchange for a lower monthly premium, and is payable on top of the compulsory excess.

This shows how insurance needs to be simplified for drivers, and that is where Cuvva come in.

Cuvva are aiming to simplify the car insurance process for drivers, making use of everyday technology to make insurance fairer for the road user.

Loren Gould, Marketing Director of Cuvva, spoke of how the company is revolutionising the way they are offering insurance.

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Speaking exclusively to Express.co.uk, he said: “The way we build our products is very customer led and one of the things we’re really proud about is that we offer customer support live chat.

“That’s available 24/7, 365 days of the year. It takes us a lot of effort to be able to do that, but we feel that if you want to ask us a question about your policy at 3am on Christmas morning, they can do it.

“I think that we should have to work around the customer, rather than have them work around us, so that’s why we go about making much more customer-centric products.

“The Insurers data sets from the days of old where they have data of decades and decades of driving behaviour, that is significantly less relevant.

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