What is compulsory excess in car insurance

An excess is the sum of money that you will be required to pay should you make a claim against your insurance. A compulsory excess is the sum that your insurer sets and is non-negotiable. This amount depends upon different factors including your age, the type of claim and your car type.

Is it better to have high or low excess?

Generally, a higher excess is considered higher risk. But it might save you money right now. If you're an infrequent driver and mostly have your car safely stored then the level of risk may be low and the savings could be great.

What does compulsory mean on insurance?

Compulsory insurance is any type of insurance an individual or business is legally required to buy. Compulsory insurance is mandatory for individuals and businesses that want to engage in certain financially risky activities, such as operating an automobile or operating a business with employees.

Do you always have to pay excess?

Do I have to pay an excess on my car insurance policy if only the other party is claiming? An excess is the amount you pay towards your own repairs or claim, so you don't have to pay an excess for a third party's claim. Also, if you don't claim for your own damage, you don't pay an excess either.