What does the word Voluntary Excess mean in term of Car insurance?

freddy the newf

In the event of a claim, how much would you like to pay in order to keep your premiums low? The more you pay for your premium, basically - the less you will have to pay for your claim i.e. the first 100 dollars of a claim

Steve D

In order to keep your premium down you agree to pay the first Â£X amount of any claim. i e if your excess is Â£500 and the damage to your car costs Â£1000 to repair. You pay Â£500 and the insurance company pays Â£500.

The idea is to stop you making claims for minor damage to your car

minifreak

it means that you pay that amount in the case of an accident. if the accident was not your fault you have to pay it to the garage but your insurance will reimburse you, you can make your excess higher which will reduce the cost of your policy

jam

Hi

https://vault2.secured-url.com/iib/encyclopeadia_item.asp?encyclopedia_id=103

it basically should reduce your premium

Good luck

taxed till i die,

It is the amount you are willing to pay in the event of an accident,The more you are willing to pay the less your premiums will be.

Finbarr D

Under comprehensive cover, it is the first amount of a claim that the policyholder must pay themselves.

WelshLad

If I volunteer to pay Â£200 then in any claim I must pay Â£200. The higher you volunteer the lesser the premium. Be careful if you are 17-21 then the compulsory excess which you have no choice is Â£400. That is why I have only volunteered Â£100.

fast eddie

it means you have to also pay something in any event, they'll be a monetasry amount on your policy saying what it is. so if you have a claim and its Â£2000 they'll pay out Â£2000 minus the 'excess'.

earl

if you have a bump,you agree to pay the first 50,100,Â£200 off any claim.if you have voluntary excess of Â£100 thats what you pay towards the cost of repair.its supposed to make your insurance premium cheaper.it will be written on your insurance policy as well if you have any excess.

Mick

The more voluntary excess you pay the cheaper the insurance .

Bonny K

With most insurance companies, you can increase your excess in order to reduce your monthly premium. A voluntary excess refers to an additional amount you're willing to pay when a claim arise. This amount will be added to the basic excess of the policy when you submit a claim. A higher voluntary excess will result in a lower insurance premium.

Here's all the information you'd ever want to know:
http://www.insurance.za.org/insurance-quotes.htm

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