What does it mean if your insurance policy has an excess of £500?

Possible Answers:

a. The insurance company will pay the first £500 of any claim

b. You'll be paid £500 if you do not claim within one year

c. Your vehicle is insured for a value of £500 if it's stolen

d. You'll have to pay the first £500 of the cost of any claim

Think you know the answer to this theory test question?

Crown copyright material is reproduced under licence from the Driver and Vehicle Standards Agency, which does not accept any responsibility for the accuracy of the reproduction. The Driver and Vehicle Standards Agency does not endorse in any way any advertisement displayed on this website.