Short overview of the conditions
Motor excess insurance is an insurance product that is made in conjunction with the regular casco insurance. Motor excess insurance indemnifies the casco deductible amount which is agreed in the casco policy. Indemnified losses could be as a result of accident, fire, theft or vandalism.
The acutal size of the indemnity depends on the excess insurance limit that has been purchased and also on the actual size of the deductible in the casco policy. Deductible insurance shall be taken out at the same time as the comprehensive insurance policy. No deductible insurance can be added to a comprehensive insurance policy which is already effective.
Motor excess insurance can only be purchased for passenger vehicles (respective categories are M1 and M1G). There is no limitation in the ownership structure of the insured vehicle – it can belong to private person, to a company or to a financial institution. Excess insurance can not be purchased by drivers with initial primary drivers licence status*.
Also motor excess insurance can not be concluded for: taxis, rental cars, driving school cars, emergency vehicles, couriers, security company cars, vans and delivery cars, transport cars, trailers, trucks, busses and work machines.
Motor excess insurance can be purchased together or in addition to all insurance companies casco policies that are issued by Estonian insurance companies. A separate insurance contract will be concluded for excess insurance that states the validity period and maximum indemnity limit that will be paid in case of an accident.
Motor excess insurance is related to the casco insurance. Excess cover is only triggered if the monetary damages that have occurred exceed the deductible set in the casco policy.
The insurance limit of the excess insurance is reduced during the insurance period by the sum of indemnified claims. Motor excess insurance premium is always paid in one instalment.
* - exact definition of initial primary drivers licence is given on the homepage of the Estonian Road Administration.