Should I increase my excess to make my policy cheaper?

The golden rule of voluntary excess is to make sure you know what you can afford to pay if you have to make a claim.

The more you agree to pay towards a claim, the less cost there would be for your insurer, so they may reduce your premium accordingly.

But beware – setting an unreasonably high voluntary excess may save you a few pounds on your premium in the short term, but if ever you need to make a claim, you could find yourself with a large bill to settle before your insurer will pay out.