Over £11 million given back to customers through Go.Compare Car Insurance Excess Refund Reward
The Price Comparison site offers customers a £250 free excess refund reward when they purchase car insurance
Go.Compare Car Insurance has revealed that its customers have been refunded over £11 million through its £250 Excess Refund Reward, since the scheme began in July 2019.*
The Excess Refund Reward allows any customer who purchases a car insurance policy through Go.Compare to opt-in and receive up to £250 back when the claim is settled.**
An excess is included on most insurance policies and is the amount that the policyholder needs to pay upfront before they can make a claim. When it comes to car insurance, the excess is split into two parts: compulsory and voluntary. The insurer sets the compulsory excess while the policyholder can choose the voluntary excess - then when you make a claim the two are added together and must be paid before a claim can be made.
Previous research from Go.Compare revealed that only 49% of motorists fully understand the meaning of voluntary and compulsory excesses on their policy, while only 17% of drivers aged 18 to 24 said they understood compulsory excess.***
Tom Banks, car insurance expert at Go.Compare commented on the news: “Seeing that over £11 million has been refunded to our customers through this offer is amazing. The process of making a claim on an insurance policy can be a stressful one so we hope that this refund reward can help ease some of the stresses, both mentally and financially.
“Our aim is to help motorists make informed decisions when it comes to insurance, making sure they get the cover they need and help them save some money - the excess refund reward is a great example of this. It’s great to see that so many customers have been able to benefit from the scheme.”
The £250 excess cover offer is available to Go.Compare car and home insurance customers on a continued basis. For more information on Go.Compare’s free £250 excess refund reward, please visit: https://www.gocompare.com/free-excess-protection-cover/.
Contact Information
Rubie Barker
Notes to editors
Notes to editors
*Between July 2019 and July 2024, over £11 million in excess protection claims have been paid to Go.Compare car insurance customers.
**Up to £250 refunded after claim settled. Car insurance excludes breakdown, windscreen and glass repair/replacement. T&Cs apply.
***These findings are from a study released by Sago between January 26-29, 2024, among a random selection of 2,219 of GB adults ages 18+ who are online panelists of Sago’s Community.
The results were weighted by age, gender, region, and ethnicity to match the population, according to Census data. For comparison purposes, a probability sample of this size has an estimated margin of error (which measures sampling variability) of +/- 2.5%, 19 times out of 20. Discrepancies in or between totals when compared to the data tables are due to rounding. Excerpts from this release of findings should be properly attributed, with interpretation subject to clarification or correction.
Sago is the global research and data partner that connects human answers to business questions. Combining a legacy of impact, global reach, and innovative spirit, Sago enables clients to solve business problems through extensive audience access and an adaptive range of qualitative and quantitative solutions.
For further information please contact:
Lynsey Walden or Kath Chadwick at Go.compare on lynsey.walden@gocompare.com or kathryn.chadwick@gocompare.com.
Keep up-to-date with GoCompare on Twitter; @GoCompare
About Go.Compare
Go.Compare is a comparison website that enables people to compare the costs and features of a wide variety of insurance policies, financial products and energy tariffs.
It does not charge people to use its services and does not accept advertising or sponsored listings, so all product comparisons are unbiased. Go.Compare makes its money through fees paid by the providers of products that appear on its various comparison services when a customer buys through the site.
When it launched in 2006, it was the first comparison site to focus on displaying policy details rather than just listing prices, with the aim of helping people to make better-informed decisions when buying their insurance. It is this approach to comparing products that secured the company an invitation to join the British Insurance Brokers’ Association (BIBA) in 2008, and it is still the only comparison site to be a member of this organisation.
Go.Compare has remained dedicated to helping people choose the most appropriate products rather than just the cheapest and works with Defaqto, the independent financial researcher, to integrate additional policy information into a number of its insurance comparison services. This allows people to compare up to an extra 30 features of cover.
Go.Compare is part of Future Plc and is authorised and regulated by the Financial Conduct Authority (FCA).
More information can be found here www.gocompare.com or here https://www.futureplc.com/brands/.