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Glossary > E > "Excess" Definition

Excess

A fixed amount of money which the insured agrees to contribute toward the cost of a claim under an insurance policy.

The specified amount a policyholder must bear before the insurers pay a claim. The inclusion of an excess, whether compulsory or voluntary or both, lowers the premium.

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Excess \ A fixed amount of money which the insured agrees to contribute toward the cost of a claim under an insurance policy.

The specified amount a policyholder must bear before the insurers pay a claim. The inclusion of an excess, whether compulsory or voluntary or both, lowers the premium.

Excess / a fixed amount of money which the insured agrees to contribute toward the cost of a claim under an insurance policy.

the specified amount a policyholder must bear before the insurers pay a claim. the inclusion of an excess, whether compulsory or voluntary or both, lowers the premium.