About Car Insurance Excess From Outsurance
Many car insurance subscribers wonder why they have to pay car insurance excess when making a claim. Don’t I already pay my premiums, they ask?
Well, there is a good reason insurers insist on you contributing something towards your own reimbursement when an event happens.
Forcing you to pay car insurance excess serves as a deterrent measure. It will make you do all you can to avoid making a claim. In car insurance, it will even make you drive better and take better care of your car.
How exactly does the insurance company pay the excess? If you are in an accident, for instance, you will take your car at one of the dealers that the insurer appoints. They will pay for most of the works and you will pay the rest in the form of excess directly to the dealer.
Car Insurance Excess Payments
There are scenarios where you will not pay excess when claiming, technically. If you were the victim of an accident, you would still pay the excess. However, Outsurance will try and get the other party to reimburse the excess amount.
What you pay in car insurance excess will differ from insurance provider to insurance provider, or depending on the specific policy you have subscribed to.
In some cases, the excess will be a percentage of the claim amount agreed upon in advance and stipulates in the contract.
Other times the amount you have to contribute will depend on the nature of the event. The excess you pay for loss by theft and loss be accident could be different regardless of the fact that the claims will be of the same value.
Some insurance providers are flexible enough to give you a say in how much excess you would like to pay. And the higher the excess you’re willing to pay, the lower your monthly premiums.
Sometimes policyholders require an additional excess over and above the stipulated excess. Some circumstances that could force you to pay this amount following an incident include:
- The driver is below a certain age
- The driver is not the regular driver of the car
- The driver’s license is less than two years old
- The driver is the holder of only a learner’s license
- The accident happens late in the night or in the wee hours of the morning
- You have claimed for a similar incident in the course of the same year
Outsurance excess is different
However, Outsurance gives car insurance policyholders a fixed excess amount for all eventualities. It doesn’t matter the nature of the claim is.
The beauty is that they are flexible enough to agree with you on the excess figure at the beginning of your policy.
Another cherry in the Outsurance car insurance pie is that retired policyholders over the age of 60 will not pay excess at all.
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