While making an insurance claim what exactly is excess?

Answers:3   |   LastUpdateAt:2017-10-08 22:45:15  

Question
weasel
Asked at 2012-05-08 17:25:32
When making an insurance claim what exactly is the excess?
Answer1kaylaAnswered at 2012-07-21 11:36:02
The portion of any claim that is not covered by the insurance provider . Usually quoted as a fixed amount and a part of most policies covering losses to the policyholder . The franchise or deductible must be paid by the insured before the policy benefits can be applied. Generally , a rule of thumb is : the higher the deductible , the lower the premium.Usually at the time of the contract mentioned in the policy excess .
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