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

Question topic: Car , Essential documents

A: The insurance company will pay the first £500 of any claim

B: You'll be paid £500 if you don't 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

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Question topic: Car , Essential documents