Insurance can be complicated, but we are here to help you. If you come across terms you don't understand or want to check your understanding, use this guide for definitions.
This term is used in your Motor Excess Insurance policy to explain the maximum amount you can claim for during your 12-month period of insurance. So for example; You buy an excess policy with a £500 Annual Aggregate Limit. Your main car insurance excess is £250. You can make up to 2 sperate claims of £250 within the year before hitting your maximum coverage limit.
The non-negotiable amount set by your motor insurer. It is based on your age, driving history, and vehicle type.
The fixed amount of money you must pay yourself toward any vehicle repair claim before your main insurance company pays the rest.
The main company that provides your standard car insurance policy (the people you pay to legally drive on the road).
This is the price for your insurance.
An extra amount you choose to pay on top of your compulsory excess. Increasing this can lower your monthly or annual insurance premium.