Car insurace policy excess varies depending on your policy. A policy excess is the amount you pay in the event of a claim where there is damage or loss to your car. For example, if your policy excess is €250.00 and you have an accident where the cost of repair is €2,000. The insurers in this case will pay you €2,000 less the €250 so the total you will receive is €1,750. You only pay an excess if it is your insurance company that has to pay the claim.