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What is an excess?
An excess is the uninsured amount you pay towards each claim. For example, if your
excess is $350 and you have an accident that will cost $2000 in repairs, you will
only have to pay the first $350, and we’ll pay the rest.
How and when do I have to pay it?
The excess is usually paid to the repairer once the work has been done, or in the
case of a total loss the excess is normally deducted from your claim settlement
amount. In some cases the excess doesn’t apply, like if you’re not at fault for
the accident, or if you’re only claiming for third party damage and not the damage
to your car. Specific conditions apply in these cases – it’s best to read the full policy
wording to get the full picture.
Can my excess be waived or refunded?
We will refund or waive your excess if:
- Your claim relates to an accident with another vehicle; and
- The driver of your vehicle is proved to be completely free of blame, and
- You give us the correct registration and contact details of the other party, and
- You give us reasonable help to recover your claim from the other party
You also don’t need to pay an excess if you’re only claiming for damage you’ve caused
to someone else’s property, and not your own.
If your claim is for damage to your windscreen or window we will not charge an excess
at all. However, the repair of glass not within the defined term will remain subject
to an excess.
Our excesses are*:
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Windscreen/Window Glass
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Nil excess
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Standard Excess
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$350
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Or if driver is aged
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Between 21 & 25
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$800
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Under 21
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$1400
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Theft & Malicious Damage**
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$1500
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* Information updated as at 01-01-2009, and applies to all new or renewed policies
commencing on or after this date (except policies sold via the Credit Union – if
unsure check your Schedule).
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** Theft & Malicious Damage excess only applies to certain vehicle types and/or modified
vehicles. If your policy includes this excess it will appear on your Schedule.
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Voluntary excess – reduce your premium
On top of our standard excess, you can now choose to have a voluntary excess. This
means that if you choose a higher excess than is standard, you’ll pay a lower premium
in return – you could save hundreds.
Our voluntary excess option means you can choose to increase your standard excess
by either $1000 or $2000. For example, let’s assume you’ve chosen a voluntary excess
of $1000, and that your standard excess is $350. If you have an accident while you
are driving, the total excess you’ll have to pay will be $1350.
A voluntary excess can either be applied to your policy at the point of sale, or
added to your existing policy at renewal.
I’m not sure which excesses apply to my policy?
If you’re ever unsure of any of your policy details, take a read of your policy
Schedule, which includes all details specific to your circumstances. Otherwise,
contact us.