Higher excess, lower premium.
Take the higher excess
$1,600 over 5 years
Premium saving per year
$470
With these inputs, take the higher excess comes to $1,600 over 5 years. Premium saving per year works out to $470.
| Input | −10% | Now | +10% |
|---|---|---|---|
| Low excess | $1,575 over 5 years | $1,600 over 5 years | $1,625 over 5 years |
| Premium with low excess | $775 over 5 years | $1,600 over 5 years | $2,425 over 5 years |
| High excess | $1,700 over 5 years | $1,600 over 5 years | $1,500 over 5 years |
| Premium with high excess | $2,190 over 5 years | $1,600 over 5 years | $1,010 over 5 years |
| Claims expected per 5 years | $1,675 over 5 years | $1,600 over 5 years | $1,525 over 5 years |
Save this set of inputs, change something, then save again to compare the outcomes side by side.
Higher excess, lower premium.
With the defaults above, take the higher excess works out at $1,600 over 5 years.