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Policy Excess |
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An excess is the part of a claim you will be responsible for paying, your insurer will only pay out on the amount above the excess. Excesses vary from one insurer to the other. Many times increasing the amount of excess you are prepared to pay will affect the premium price. Under such circumstances the excess is said to be varied or the agreed excess. Excesses vary from £150 to £500 and are often higher in lower grades of insurance such as 3rd Party, Fire and Theft insurance than Fully Comprehensive Cover.
Watch out for different excesses in one policy. For example, different excesses might apply depending on whether a claim is for accidental damage or theft. There is usually a separate excess for windscreen replacement claims. It is often possible to avoid paying an excess if you have a small chip or crack repaired early enough. Many insurers will pay for this in full and the windscreen repair company can claim the money from your insure for you.
Always make sure you can afford the excess in the event of a claim and that you're aware of any applicable excess and/or cover limits your policy may include. Always be sure that you are comfortable with the amount you have committed to. Multi car insurance explained click on the link
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