Car Insurance, Essential Information About Excess Payments

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Excess payments are fixed contribution you must pay each time your car is repaired through your car insurance policy. Usually, the payment is made directly to the accident repair garage when you collect the car. If your car is declared write, your insurance company will reduce the excess agreed on the policy of the settlement payment it makes to you.

Car Insurance, Essential Information About Excess Payments
If the accident is the fault of the other driver, and this is accepted by a third party insurance company, you will be able to reclaim the excess payment from the insurance company of others. But what if the other driver is insured?

All motorists know that it is a legal requirement (under Article 143 of the road traffic Act 1988) to have insurance for any damage to third parties. But still a lot of driving without insurance. Estimates of the incidence of uninsured driving in the UK is hard to come by and for obvious reasons, those drivers who are involved in breaking the law have every reason to keep quiet about it.

Calculation of the Department of Transport in the UK suggests that around 5% of the vehicles are driven without valid insurance. This group of people does not only apply to the cost honest motorists in the form of higher premiums, but their presence on the road we also represent a serious risk to other road users. As a result, uninsured driving increasingly being regarded as a major social problem.

But driving without insurance is not a victimless crime. If you have an accident with a driver who is insured and the accident was not your fault, repair costs will be paid by the Bureau of Motor insurance funded by the industry as a whole, or with your insurance company. Therefore, if you are involved in an accident caused by the driver of insurance that you will eventually get the car repaired but you still have to pay the excess and will be there to reclaim your excess from.

What is it compulsory excess?

Compulsory excess is the excess of the minimum payment you will receive an insurance company on your insurance policy. Minimum excesses vary according to personal data and your driving record and insurance companies. Today is an average surplus of about £ 100, but younger drivers can be confronted with the excesses of up to £ 500 - while the more mature, experienced driver with a good driving record, can offer the advantages of only £ 50.

So what is a voluntary excess?
To reduce your insurance premiums, you might offer to pay a higher excess than the compulsory excess demanded by your insurance company. Your voluntary excess is the amount required in addition to the advantages that you agree to pay in the event of a claim policy. As a larger excess reduces the financial risk carried by the insurance company, your insurance company I was able to offer significantly lower premiums.

The garage had my car repaired, but it will not release the car too me until I pay the excess of their policies. Is this true?

Yes, it is a normal practice. But make sure you check the car when you collect it. Satisfy yourself that perfect repair. Then make sure you keep your payment is received to excess because you will need this if you are being reclaimed for third party insurance. And if there is a dispute, it is a good idea to ensure the repair garage gives you a repair schedule. It will display all improvements made to your car.