The physical damage your vehicle suffers from a collision is covered by your basic plate insurance subject to a deductible.

What is basic excess for car insurance. However the amount can differ by thousands so it pays to check what yours is. It usually has to be paid to the garage fixing your car once it is repaired before you can drive it away. If selected this nominated higher excess will replace your standard excess.

A car insurance excess is the amount you pay when you want to make a claim. Your Basic Excess plus any additional excesses that apply. Types of excesses Most insurance policies have a standard excess or a voluntary excess.

Most vehicles with basic plate insurance have a 700 deductible. 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. An excess is a contribution you are required to pay towards a claim you make on your car insurance policy.

Various insurers charge different excess depending on the type of claim ie. If you hold a Third Party property policy the excess varies based on your state. Most insurers charge proportionate excess whereby a fixed percentage comes from the final claim amount.

The deductible is the amount you must pay before your basic plate insurance covers the rest of the costs. Simply put excess is the amount you elect to pay in order to self-insure which you agree to when you take out an insurance policy. For example if someone under the age of 21 causes an accident while driving your car youll have to pay your Basic Excess lets assume its 600 plus an additional.

The meaning of voluntary excess is paying more excess for a lower monthly premium. A basic excess may apply to your insurance policy and the amount may vary depending on the make and model of your vehicle You may be able to choose the value of this excess by opting for a higher or lower amount when you take out your policy. This means that if a policyholder is charged by a car hire company for the excess payable when their hire car is stolen vandalised or damaged they can seek reimbursement from the car hire insurer.