A policy excess is the amount you must pay towards a claim before your insurance covers the rest. It helps keep insurance premiums lower and prevents small, frequent claims.
Types of Excess in Motor Insurance
🔹 Standard Excess – The fixed amount that applies to most claims.
🔹 Voluntary Excess – An optional higher excess you choose to reduce your premium.
🔹 Young/Inexperienced Driver Excess – An additional charge for drivers under a certain age or with limited experience.
Example of How Excess Works
Let’s say your excess is €250, and you’re involved in an accident where repairs cost €1,500:
✅ You pay €250.
✅ Laferla covers the remaining €1,250.
When Does an Excess Apply?
✔️ Most claims, including Own Damage/accidents claims, theft claims, and fire claims.
✔️ If another driver is at fault and we fully recover costs, you may get your excess refunded.
Can I Reduce My Excess?
✅ Yes! Some policies offer a lower excess for an additional premium.
For specific details about your policy’s excess amounts, check your policy document or contact our team.