Allianz Global Assistance Launches 'Lifestyle Excess' Protection

The Lifestyle and Motor Excess insurance solution is split into five main sections: Motor Only Excess, Multimotor Excess, Commercial Motor Excess, Commercial Business Excess and Lifestyle Excess. Lifestyle Excess effectively covers Home Insurance, Motor Insurance and Travel Insurance.

Lee Taylor, Chief Sales Officer for Allianz Global Assistance in the UK explains: “Many insurance products can carry large excesses, which are sometimes unaffordable in the current financial climate. Excess Protection is a solution designed to help our client’s customers manage these financial burdens. Lifestyle Excess Protection covers the insured for their Excess on three products: Home, Motor and Travel.”

Customers simply choose the level of annual aggregated cover that they desire. In the event of the insured making a claim, Allianz Global Assistance reimburses them up to the Excess on the condition that the primary insurer has accepted and paid the claim less any Excess. The customer is only covered for Excesses up to the amount chosen at the time of buying the policy, however, the insured can make multiple claims up to this aggregated limit.

Concludes Lee Taylor: “We are constantly exploring how we can grow our business lines and this proposition fits into our current portfolio very well. By working together with SISL and Jackson Lee Underwriting we are helping our clients add value to their customer proposition. In turn, those customers better manage the costs of cover and stay protected by reducing the likelihood of them deciding to opt out of buying insurance altogether because of the level of excesses.”