Car Insurance Excess. What is car insurance excess means.Choosing a car insurance policy can be a complicated task. So come let’s take a look and understand what is car
insurance excess means. Car insurance excess
is the extra amount you need to pay when you claim for your insurance policy.
In other words it is the amount you agree to pay extra and the insurer pays the
For Example: If you policy has $500
excess and you have claimed $2000 for
the damage of your vehicle you will first have to pay excess $500 and then the
insure will pay the rest.
the excess amount you need to pay varies depending upon different factors.
the insures need to add Excess to their policies?
purpose for this car insurance excess
is that the insures does not need to pay for the small claims that are made. If
there wasn’t excess there would be claims for little bump, small scratch on car
or dent etc.
types of Car insurance Excess:
How can we avoid paying Car Insurance Excess?
- Standard Excess
Inexperienced Driver Excess
have to pay some amount to the insurer when we claim for the policy. In some
rare cases it happens that we don’t need to pay the excess for what we claim.
Finally, you need to pay excess or not totally depends on the terms and
conditions that are for your policy.
do we have to pay our excess?
How to pay the excess
depends on the insurer or the terms and conditions of your policy. The
insurance company will tell you whether the amount should be deducted from the
amount paid to you or the excess amount should be paid to the insurer.