Your vehicle is covered for the agreed value shown on your schedule, which can be found by viewing your policy online through myRAC. As vehicles depreciate each year, your agreed value (sum insured) may decrease at each renewal. You have the option to adjust this by managing your policy online or calling us on 13 17 03 when you receive your renewal.
The excess is the amount you need to pay towards settlement of any claim. Sometimes there are additional excesses, for example, for young drivers.
When you get a quote, you can choose a lower or higher basic excess. Choose a basic excess amount between $400 and $2000 that's appropriate for you, taking into consideration any limits of any additional or optional benefits.
