What is Car Insurance Excess?
If you’ve recently been in a car accident, you will find that when you claim on your insurance you will still need to pay towards the damage of your vehicle – but why? Well this fee is your car insurance excess and depending on numerous factors, like your age or vehicle, will ultimately decide how much you have to pay if this were to happen.
How does it work?
Car insurance excess is only paid when you are the at-fault driver. Excess is split into two; compulsory and voluntary. Compulsory excess is the amount set by your insurance company that you must pay in the event of a car accident. Voluntary is set up by you and your insurance company when you start with them. It’s simply an optional amount that you can add on top of your compulsory excess to reduce the price of your car insurance premium.
Young Drivers Excess
If you’re a young driver, it’s inevitable that your insurance excess will be more expensive. Due to young drivers being more prone to an accident, car insurance companies charge a higher compulsory excess to prevent the risk of them losing money.
What if I can’t Afford my Excess?
If you find yourself stuck for money after an accident and don’t have the funds available to pay your car excess, your insurance company may refuse your claim or deduct the same amount from what they pay towards the vehicle repairs.
If you find yourself in a car accident that wasn’t your fault, Call Brian can help you. We will claim from the insurance policy of the at-fault driver, in which will pay for the repairs needed for your vehicle to get back onto the road. If you’re not at fault, you simply won’t pay anything which means there’ll be no claiming on your insurance company – so you won’t be affected by your insurance’s excess policy.
If you’ve had a car accident that wasn’t your fault, give us a call today on 0800 848 8999