Why is there a difference between voluntary and compulsory excess on my Home Insurance?

The compulsory excess is set by us and is the amount you pay when you make a claim.

On the other hand, your voluntary excess is chosen by you and will be added to your compulsory excess when you claim. Your premium will be reduced as a result..

Both excesses will apply to most claims unless there is a specific 'peril excess', for example, escape of water, where the excess is always £350.