It is crucial that you understand your policy excess and how it can be applied in practice because excesses for independent financial advisers and financial advisers can be very high, with some starting at £5,000.
It can be complicated too but we can advise you.
Most excesses will apply to “each and every claimant”. This means that if you receive five simultaneous claims, your excess will apply to each claimant, leaving you with a total policy excess of £25,000.
It’s important you check and audit your advisers and ensure no mistakes are being repeated.
