Insurance excess how does it work

When you make a claim your insurer will either deduct the applicable excesses from the amount it pays you, or direct you to pay the excesses to it, or to the appointed repairer or supplier. Your insurer may require you to pay the excess in full before it pays your claim or provides any benefits under your policy. In some situations your insurer may waive any excess that applies, and under some policies there may be no excess at all.

For instance, if you are involved in a car accident your insurer may waive the excess if you were not at fault and you can provide the name and address of the person who was. Toggle navigation Understand Insurance. Home What is an excess? The amount of the excess is specified in your policy. Opting for a higher excess level on your cover may reduce the price of your premium.

But what is excess insurance and when does it apply? Insurance excess is the defined amount you agree to pay towards any claim you make. It applies to general insurance products such as motor, travel, pet, health and home cover , but not life policies. Usually, you pay the excess at the start of an insurance claim. You have no control over your compulsory excess as the insurance company sets this and it's non-negotiable. It's determined by a variety of factors, for example, if you're a young driver your car insurance compulsory excess may be higher because you're considered a riskier driver.

Your voluntary excess is exactly that — voluntary. You can choose what you'd like to pay from a predetermined range when you take out your policy or when you renew.

Your excess amounts will be shown on your policy schedule, but you should also check the terms and conditions. If you are an existing Aviva customer, you can review your excesses in MyAviva. Once logged in follow the below steps:. For home cover, the excess can vary for each insured event. This means you may have different levels for a fire, leaking water or subsidence. You can select these in MyAviva in the "Tailor your policy" section on the "Your quote" page.

For Aviva Motor Insurance policies, your excess depends on the level of cover you choose. You should assume you have to pay the excess upfront to start any claim, so make sure you can afford it.

Hi , Your account. Find out more. With over 31 million customers worldwide, we can help to find you the right healthcare cover for you and your business. You can find some of the most common causes of pet damage in the home and how to stop this misbehaviour, read more. Read more. Luckily, you may be able to improve this feeling or get rid of the worry altogether by increasing the security in and around your home.

A house fire can be devastating. While usually, thanks to devices such as smoke and heat alarms, everyone gets out safely, possessions and valuables can be destroyed. Back to top.

What does excess mean in insurance? What is insurance excess? What is compulsory excess? What is voluntary excess? How does insurance excess work? Do you have to pay both compulsory and voluntary excess? How much voluntary excess should I pay? Learn more about Age Co and the products we provide.

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