Key Car Insurance Terms You Should Know

Premium

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Insured Value

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Excess

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Agency Repairs

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Non Agency Repairs

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Road Side Assistance

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Key Car Insurance Terms You Should Know

6

Premium

A premium is the amount paid to an insurer for coverage against damages or liability.

Insured Value

The maximum amount an insurer pays if the insured asset is a total loss, varying by asset type.

Excess

Excess is the initial claim payment, with higher excess usually lowering premiums.

Agency Repairs

Agency repairs use dealerships for high-standard but costlier fixes.

Non Agency Repairs

Non-agency repairs are cheaper, done at approved garages, and usually faster.

Road Side Assistance

Provides quick help during breakdowns with towing, jump-starts, tyre fixes, fuel delivery, and more.