All about Excesses
At Zurich Connect, we understand that motor policy excesses - what they mean and how they work - can be confusing, particular to our new customers who are buying motor insurance policies for the first time.
What is Car Insurance Excess?
The 'excess' is the sum of money you are obliged to pay or have agreed to pay in the event that you have to make a claim on your motor insurance policy. E.g. if your car is repaired after an accident and your excess is £100, then you will have to pay the first £100 towards the costs of those repairs. If the repair bill is £1000, you will pay £100 and we, your insurer, will pay the remaining £900. The excess is a fixed amount of money that is your contribution to the claim.
Zurich Connect includes policy cover to allow you to claim for any uninsured loss, such as your excess, if the accident was not your fault and the insurer of the other driver involved has accepted liability. Depending on your car and your age different types of car insurance excesses may apply.
These include Compulsory Excess, Young Driver Excess, Vehicle Excess, and Voluntary Excess car insurance excess types.
What is a Compulsory Excess?
A compulsory excess is the minimum excess payment we require from you in order to provide you with a motor insurance policy. Zurich Connect has a £100 policy excess.
Young and Inexperienced Driver Excess
This is a compulsory excess insurance type for young drivers under the age of 25, and drivers who have held a UK licence for less than one year, if they are involved in an accident while driving the car.
Zurich Connect’s young driver car insurance has the following excesses for drivers in these age groups:
- Aged under 21: £250
- Aged 21-24: £200
- Aged 25 or over and has not held a full UK driving licence for 12 months: £100.
Vehicle Excess
This is a compulsory excess insurance type that applies to specific vehicles. If you have a high-performance or luxury car, excess may be required to be paid in addition to any other compulsory excesses.
What is Voluntary Excess?
As its name suggests, a Voluntary Excess is an amount of money that you decide to contribute as the first part of any claim. This is in addition to any compulsory excess insurance type.
Who should consider increasing Car Insurance Excess?
Agreeing to pay a voluntary excess to your insurance provider can be a smart way to get an overall lower insurance premium for your motor policy cover. By offering to pay a voluntary excess, car insurance can be cheaper.
