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Car Insurance Excess

car insurance excess

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 remaining amount.        
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.
       
However, the excess amount you need to pay varies depending upon different factors.
Why the insures need to add Excess to their policies?        
The 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.

Different types of Car insurance Excess: ·        
  • Standard Excess ·        
  • Age Excess ·        
  • Inexperienced Driver Excess ·        
  • Windscreen Excess  
How can we avoid paying Car Insurance Excess?        
While we 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.
How 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. 

Our team's hands on experience in bespoke insurance solutions and claim handling makes us #1 preferred choice with businesses and individuals NZ wide.