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Excess
What is an excess?
An excess is the amount you have to pay if you make a claim on a car insurance policy. NOTE, if the accident was not your fault you may be able to claim a reimbursement from the person at fault’s insurance company.
You have a choice of voluntary or compulsory excess (see below).
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A compulsory excess is the minimum excess value your insurer will allow you to pay whilst taking one of their policies. Most frequently, young drivers have to bear an increased excess which may be as much as £500. There is usually a compulsory excess for fire and theft of £100 on most motor insurance policies.
What is voluntary excess?
An voluntary excess is an additional excess value which you may chose to pay on each claim. By adding a voluntary excess value you are reducing the risk to your insurer and will therefore benefit from a reduced premium as a result.
My car has now been repaired and the garage has asked me to pay the policy excess - should I pay them?
Yes, but only when you are satisfied with the quality of the repair. You should always retain a receipt, as this will be required if a claim for uninsured losses is to be pursued. Make sure you have documented all repairs that have been made to your vehicle.