Your policy excess is the first amount of any claim that is paid by the policyholder. Excesses can be compulsory (imposed by the insurer) and voluntary (an additional amount, dictated by the policyholders, usually used to drive your annual premium down).
All car insurance policies will include a policy excess that will be applied to a claim that involves the policyholder’s vehicle following an accident. Once the vehicle is repaired the policyholder must pay the amount of the excess to the repairing garage before the garage will release the vehicle.
Compulsory excess
This is set by the insurer underwriting your policy.
The compulsory excess is added to the voluntary excess to you give the total excess you would payout in the event of a claim. For example, if you choose a voluntary excess of £350 and a compulsory excess of £100 applies, the total excess you’d pay if you had to claim would be £450
Voluntary
This is chosen by you and is in addition to any compulsory excess. You can set this as low as zero to reduce how much you’d have to pay out in the event of a claim, or you can increase it which may reduce your premium. You’d pay the amount you’ve chosen in the event of any claim.
Young and Inexperienced Drivers Excess
The amount will depend on your age, the type of car you have and the type of claim you make – this is usually higher for young drivers but will come down with age and driving experience.
Theft Excess
Excesses are not just applicable to Comprehensive policies. Third-Party, Fire and Theft policies will often have compulsory excesses applicable to any fire or theft claims. Higher theft excesses may well be imposed by insurers if there are circumstances that result in a higher than average theft risk.
Windscreen Excess
When even a small chip could be enough to make your vehicle fail its MOT, windscreen cover is a popular addition to most insurance policies. All of our comprehensive car insurance policies include windscreen cover as standard, but if you take out a third party policy you can choose to purchase our separate windscreen cover with your policy.
Windscreen claims do not affect your No Claims Bonus
Excess Protection
Excess Protection Insurance provides peace of mind. This innovative cover reimburses your excess payments on your car insurance policy, which means if you have to claim on your car insurance then the excess on that policy is covered up to the value of the excess protection that you have taken out.