What is excess on car insurance?
Excess is the amount you agree to pay towards a claim. If your claim is approved, the insurer typically pays the remaining cost after excess is deducted.
Compulsory excess
Compulsory excess is set by the insurer and applies automatically. You cannot reduce or remove it. It often depends on factors such as age, experience, and vehicle type.
Voluntary excess
Voluntary excess is the amount you choose to add on top of compulsory excess. Choosing a higher voluntary excess may reduce your premium, but increases your out-of-pocket cost if you claim.