Essential documents
Your insurance policy has a '£250 excess'. What does this mean?
- The insurer pays you £250 for every claim
- You pay the first £250 of any claim yourselfCorrect
- You must drive at least 250 miles a year
- The policy always costs exactly £250
Why?
The excess is the amount you agree to pay towards a claim before the insurer pays the rest. A £250 excess means you pay the first £250 of the cost yourself. Insurance is a required document in Annex 3 of The Highway Code.
Highway Code rule Annex 3