UK Car Driving Theory Topic " Documents " Practice Questions

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Question : 28 of 28

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

The insurance company will pay the first £500 of any claim
You'll be paid £500 if you don't claim within one year
You'll have to pay the first £500 of the cost of any claim
Your vehicle is insured for a value of £500 if it's stolen

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