Customers may be able to reduce their premium amounts by choosing to have a higher excess on their insurance policy. This carries some risk as they will have to pay a higher amount if they make a claim.
Some customers may feel this is the right decision for them. If they rarely use their car and it’s generally stored securely, their level of risk may be low, and they may choose to make a saving on their premiums.
With Allianz car insurance policies, customers can choose their own excess amount, but there are limitations on how much they can vary it. Customers will have the choice of changing the Basic excess within a range that we will determine, but they cannot vary or remove any Imposed excess.
Customers will most likely want to strike a balance between paying affordable car insurance premiums and an excess that won’t cost them too much if they need to make a claim.
The information contained in this article is of a general nature only. Changes may occur which could affect the accuracy or completeness of the information. While Allianz has taken all reasonable care in producing this article, it accepts no responsibility for any loss incurred from using or relying on it.