The excess is a portion of a motor claim. It is the cost of repairing or replacing your vehicle, specified as a percentage of the value of the vehicle, that you are responsible for paying, whether or not you are at fault. The Company will pay amounts over and above this figure up to the sum insured. We do not apply an excess to fire claims. If you are involved in a minor accident, you may feel that you should not report it as it could cause your premium to be increased. However, failure to report an accident is a breach of the terms of the policy. If the other party chooses to claim on their insurance company who then seek repayment from us, your rights to protection under the policy may have been forfeited. It is important to report all accidents and avoid unnecessary problems.
What is the Excess?