Collingwood Insurance Jargon Buster

Learning to drive and getting insurance can be a confusing time with so many new words and terms thrown at you at every turn. We have put together this helpful jargon buster to help you understand key terms relating to your policy.

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Word
Meaning
Excess

Insurance excess is the defined amount you agree to pay towards any claim you make. There are often two types of insurance excess, compulsory and voluntary. Compulsory excess is the value you must pay and is set by the insurer. Voluntary excess is the amount that you are willing to pay in addition to the compulsory excess.