Excesses mainly exist to deter people from claiming really small damages or claiming things too often.

What is excess for car insurance. All car insurance providers insist you pay towards any claim you make within your policy year. The excess amount is usually agreed when you take the insurance policy out and is typically made up of two types. Unfortunately all insurers have excesses in place.

Whether youre looking for Third Party Fire and Theft or Comprehensive motor insurance you will still need to pay a certain amount of excess if you were to make a claim. 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. Car insurance excess is the amount youll have to pay towards a claim that you make on your insurance.

In a nutshell your excess is a fixed amount that you have to fork out if you make a claim. 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. In order to learn about why pay excess on insurance PLEASE click.

Comprehensive car insurance with a low excess is similar to the top tier medical plans that cover almost all. This insurance will cover the cost of the excess in the event of an accident. Car insurance excess is an agreed amount of cash that you would be willing to pay towards a claim if ever you made one to cover damages after an accident for example.

An excess means that you the policyholder agree to take part of the insurance risk away from your insurer as you are agreeing to pay a portion. It comes in two different forms. A car insurance excess is the amount you pay when you want to make a claim.

Both refer to the amount a driver must pay before the insurance company. One of the least understood areas of car insurance is your excess. You only pay the excess for your losses and when youre at fault.