The compulsory excess is determined by the insurer and cannot be altered, while the voluntary excess is chosen by the policyholder.
This article explains the difference between compulsory and voluntary insurance excess.
Compulsory excess is a fixed amount set by the insurance company that you must pay towards a claim, regardless of your choices. Voluntary excess is an amount you choose to pay towards a claim, often to lower your insurance premium.
Unfortunately, many drivers are confused about these terms.
The article highlights the importance of understanding these concepts when choosing car insurance to ensure you have the appropriate coverage and are not surprised by costs when making a claim.
This article explains the difference between compulsory and voluntary insurance excess. Compulsory excess is a fixed amount set by the insurance company that you must pay towards a claim, regardless of your choices. Voluntary excess is an amount you choose to pay towards a claim, often to lower your insurance premium. Unfortunately, many drivers are confused about these terms. The article highlights the importance of understanding these concepts when choosing car insurance to ensure you have the appropriate coverage and are not surprised by costs when making a claim.
