Excess insurance is a policy that covers your excess if you have to make a claim.

What is excess for car insurance. Its a completely separate insurance policy to your main one. All car insurance providers insist you pay towards any claim you make within your policy year. While compulsory excess is set by your insurer voluntary excess is your own decision.

It comes in two different forms. However the amount can differ by thousands so it pays to check what yours is. For example if damage to your car costs 1000 and your excess is 300 you will pay 300 and your insurer will pay 700 or if your excess is 400 your insurer would pay 600.

Both refer to the amount a driver must pay before the insurance company. So if your excess is 250 and you make a claim for 1000 your car insurance provider will keep the first 250 and give you the remaining 750. Excess is sometimes also referred to as a deductible.

This is essentially the amount of money you pay out of your own pocket if you make a claim. Excesses mainly exist to deter people from claiming really small damages or claiming things too often. A car insurance excess is the amount you pay when you want to make a claim.

Excesses mainly exist to deter people from claiming really small damages or claiming things too often. This insurance will cover the cost of the excess in the event of an accident. Like the insurance equivalent of those Russian nesting dolls.

Definition of Insurance Excess An excess is the first amount payable by you in the event of a loss and is the uninsured portion of your loss so when you submit a claim youll have to pay an excess. You only pay the excess for your losses and when youre at fault. Its an additional amount you choose to pay on top of the minimum contribution required.