Car insurance, essential information about excess payments

An overpayment is the fixed contribution that you must pay each time your car is repaired through your car insurance policy. Normally payment is made directly to the garage repair of accident when you collect the car. If your car is declared to be a burning out, your insurance company will deduct the excess agreement on settlement payment policy does for you.

If the accident was the failure of other drivers, and this is accepted by the insurer of the third, you will be able to recover your payment of excess insurance company of another person. But what if the other driver's insurance?

All drivers know that is a legal requirement (pursuant to article 143 of the Act 1988 Road Traffic) insurance for any damage they cause to third parties. But still many drive without insurance. Is hard to come by an estimate of the incidence of uninsured driving in the United Kingdom and, for obvious reasons, these drivers involved in breaking the law have every reason to keep silence on the subject.

Department of transport Calculations suggest that in the United Kingdom around 5% of the vehicles are conducted without valid insurance. This group of people not only entail costs for motorists honest in the form of higher premiums, but its presence on our roads also represents a serious danger to other road users. Consequently, uninsured driving increasingly is being considered as a serious social problem.

But driving without insurance is not a victimless crime. If you have an accident with a driver not insured and the accident wasn't your fault repair costs shall be paid by the Motor Insurers ' Bureau financed entirely by industry, or by your insurer. Therefore, if you are involved in an accident caused by an uninsured driver that you will eventually you car repaired, but you will still have to pay excess and there will be nobody to retrieve its excess.

What is a compulsory excess?

An excess is the minimum payment compulsory excess that your insurer will accept in your insurance policy. Excesses minimums vary according to your personal details and driving record and by the insurance company. Excess medium is, today, around 100, but younger drivers could be confronted with excesses of up to 500 – while more mature and experienced drivers, with a good driving record, could be offered an excess of only 50.

What is a voluntary excess?
To reduce your insurance premium, you can offer to pay an excess higher than excess mandatory required by your insurance company. Voluntary excess is the extra amount above the excess mandatory that you agree to pay in the event of a claim in the policy. As a great excess reduces financial risk made by your insurer, your insurer I able to offer you a premium significantly lower.

The garage noticed my car, but he won't release the car also me until I pay them the excess policy. This is right?

Yes, this is normal practice. But make sure you inspect the car when you collect it. Make sure that the repair is perfect. Then make sure you keep your receipt for your overpayment, as you will need this if you are recovering against third-party insurance. And just in case there is a dispute, it is a good idea to make sure that the repair garage gives you a repair scheduling. This will list all repairs that were made for you car.