What is an excess?
The policy excess is the amount you may have to contribute towards a claim under the contract. Different types of claim can have different excess terms. Ask how compulsory and voluntary excesses work in the offered cover.
INSURANCE GUIDES / EXPLAINED
Understanding excess and exclusions
Learn what a policy excess means and how exclusions affect claims.
THE SHORT VERSION
Learn what a policy excess means and how exclusions affect claims.
Where to look for exclusions
Exclusions tell you what the insurer will not cover, often including particular drivers, use types or situations. The policy wording and schedule should be read together. A statement such as “comprehensive” does not remove the need to read exclusions.
Check before you commit
Look at the total price, level of cover, limits and claims process as a package. If a restriction changes how you plan to use the car, clarify before buying instead of hoping it will not matter.
GOOD TO KNOW
Common questions
Is the excess part of the premium?
No. The premium buys the cover; an excess is a separate contractual amount potentially payable on a claim.
Does every claim have the same excess?
Not always. Refer to the wording for the particular claim type.