what is voluntary excess

Voluntary excess is an amount that you agree to pay towards the cost of a car insurance claim. It is the amount you choose to pay on top of the compulsory excess to reduce the overall cost of your insurance. When you purchase a policy, the insurer sets the compulsory excess, and you choose the voluntary excess. Both amounts are automatically added together, and this is what you will have to pay in the event of making a claim. The main reason for agreeing to pay voluntary excess is that it could reduce the cost of your car insurance. When you get a car insurance quote, its worth looking at how changing the voluntary excess affects your price. The amount of excess you pay when you claim may vary depending on the voluntary excess amount you chose to pay, the type of claim, and your age. It is important to note that new and young drivers fall into a higher-risk category, so theres usually extra excess added, which should be clearly noted in your policy. Additionally, you might have additional excess to pay if you drive a luxury or high-performance car.