What Is Voluntary Discount In Car Insurance?

What does voluntary mean on car insurance?

What’s the difference between voluntary and compulsory excess.

Compulsory excess is set by your insurance provider and can’t be changed.

Voluntary excess is how much you choose to pay on top of the compulsory excess..

Is it worth paying voluntary excess?

The amount of voluntary excess you have can significantly impact the cost of your car insurance premium. By choosing a higher voluntary excess, you will reduce your premium; but you will also have to pay more if you do make a claim.

What is deductible amount in car insurance?

A car insurance deductible is the amount of money you have to pay toward repairs before your insurance covers the rest.. For example, if you’re in an accident that causes $3,000 worth of damage to your car and your deductible is $500, you will only have to pay $500 toward the repair.

What is the compulsory deductible if the engine capacity is more than 1500 cc?

Rs. 2000Compulsory Deductible If the engine potential is more than 1500 cc, the compulsory deduction is Rs. 2000; if it is less than 1500 cc, the compulsory deduction is Rs. 1000 only.

Do I have to pay voluntary excess if not my fault?

Paying the excess when it’s not your fault If the other driver has admitted fault and has already told their insurer, your excess might be waived. But usually you’ll have to pay it – so make sure you can afford it. When your insurer is certain you’re not at fault, you’ll get it back.

Can u cancel car insurance any time?

A typical car insurance policy will last 12 months but you can cancel it at any time. Just bear in mind that you won’t automatically get your money back and your insurance provider may charge you a cancellation fee.