What is an insurance excess?
Insurance excess is the maximum amount you are responsible for paying in the event of an accident or damage claim.
For example, if your excess is $3,000 and the damage amounts to $5,000, you pay $3,000 and the insurer covers the remaining $2,000. If the damage is only $1,500, you pay the full $1,500 since it is below your excess.
What is my insurance excess on Flexar?
Your excess depends on your driver profile:
| Driver Profile | Own Damage (OD) Excess | Third-Party (TP) Excess |
|---|---|---|
| Age 22+ with min. 2 years driving experience | $3,000 | $3,000 |
| Under 22 and/or min. 1 year driving experience | $5,000 | $5,000 |
| Under 22 and/or less than 1 year driving experience | $8,000 | $8,000 |