Excess is simply the amount you are required to pay in the event of a claim.
The actual amount of excess you have to pay depends on how you’ve set up your policy.
The Excess you Choose
When buying your policy you have the options of setting your excess. In many cases opting to pay a higher excess (paying a bit more for repairs before we reimburse you) results in a lower premium for you.
To choose the right excess for your needs, weigh what you’re able to pay in the event of an accident versus your monthly premium costs.
Excesses you Don’t Control
There are some flat excess charges for certain types of claims: