This is a fixed charge you’ll pay towards a claim. There are two types of excess – compulsory and voluntary.
Car insurance excess is the amount of money that UK drivers have to pay towards a claim before their insurance policy covers the remaining costs. In other words, it is the contribution that drivers are required to make when making a claim.
For example, if a driver has an excess of £500 and they make a claim for £2,000, they would need to pay the first £500 themselves, and the insurance company would cover the remaining £1,500.
The excess amount can vary depending on the insurance policy and the driver's preferences, with higher excess usually resulting in lower insurance premiums.
It's important for UK drivers to be aware of their insurance excess as it can impact the cost of repairs and claims in case of an accident or damage to their vehicle.