An excess, sometimes called a deductible, is the amount you may be required to contribute towards an insured claim.

The amount and way the excess applies will depend on the policy.

Your Policy Schedule will usually show the main excesses applicable to your insurance, although additional excesses may also appear in the Policy Wording or endorsements.

Different excesses can apply depending on:

• The type of insurance
• The section of cover
• The cause of the claim
• The person involved
• The location
• Particular activities or property

Business and property insurance #

A Business Insurance policy may have different excesses for different sections or insured events.

For example, separate excesses may apply to:

• Property damage
• Theft
• Glass
• Machinery breakdown
• Portable equipment

The exact structure depends on the insurer and policy.

Professional Indemnity Insurance #

Under Professional Indemnity Insurance, the excess may apply differently depending on whether defence costs are included within the excess.

You can read more about Professional Indemnity claim excesses.

Motor Insurance #

Motor policies can have more than one excess applying to a claim.

Examples can include:

• A basic excess
• An age excess
• An inexperienced driver excess
• An additional excess applying to particular drivers or vehicles

Whether multiple excesses apply together depends on the policy wording and circumstances of the claim.

Can I choose a higher excess? #

Some insurers allow you to select a higher voluntary excess in return for a lower premium.

If considering this option, make sure the excess would remain affordable if you needed to make a claim.

If you are unsure how an excess under your policy operates, contact our team.