Most insurance customers understand the term “excess” but not everyone appreciates the implications. An excess is a form of “self-insurance” or in other words a potential cost to the customer if a claim occurs. Whatever the cost of the claim, the excess is payable for the amount agreed except where the total of the claim is less than the excess amount – in which case the excess equals the cost of the claim. Most policies from large car rental companies such as Hertz and Europcar carry an excess of some kind and most discerning customers will attempt to choose a low excess…
Motor Insurance Pit Falls
