Out of Pocket Expenses
In relation to car insurance out of pocket expenses will be the expenses that are not reimbursed after a car accident for example – it represents the expenses that the insured party will have to carry himself. The excess that is payable by the insured will form part of the out of pocket expenses. The term also refers to expenses incurred and paid for by and individual relating to one’s employment or business that can be claimed back from the business.
Out of pocket expenses can also include the cost of running a car, such as petrol, service and repair costs.