What is excess in insurance car

A car insurance excess is the amount that you have to pay yourself if you make a claim. There are two types of excess: Compulsory excess - this is a fixed excess, set by us, which you'll have to pay if you make a claim. The amount varies depending on your circumstances.

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 is excess insurance example?

How does it work? If your home is damaged in a storm, the cost of repairing the damage might be $4000. If you had a $600 excess, you'd pay the first $600 and the insurer would pay the remainder. Not every type of policy has the same kind and level of excess, and excesses don't all apply in the same situations.