What Is Insurance Excess. If you need a reminder of the excess amount you have agreed to, you can find this on your most recent policy schedule or call us on 0800 500 213. Excess insurance can cover insurance policy excesses, like your motor or home cover, and the high excesses charged by hire car companies.
It is sometimes known as an excess waiver. Insurance excess explained with an example. The ‘excess’ (sometimes called the ‘deductible’) is the amount of money you will have to pay the rental company if your hire car gets damaged or stolen whilst.
In the event of an accident, hire car excess insurance covers the first part of any claim, otherwise known as the “excess”.
What is home insurance excess? As insurance is comprised of the contributions of many to one pool of funds to pay the claims of a few, excess helps deter multiple claims on small incidents. Excess insurance is insurance coverage that kicks in when a particular loss reaches a certain amount. Excesses mainly exist to deter people from claiming really small damages, or claiming things too often.