What is insurance excess?
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Last Update 3 years ago
"An excess is the amount YOU have to pay in the event of a loss." It is basically the uninsured portion of your loss.
This means that when you submit a claim, you will have to pay this portion.
Normally, when you get in a car accident, you will have to pay the excess to the panel beater or mechanic for fixing your car. Your car insurer (that’s us), pays the rest.