What is a policy excess?

A policy excess is the amount you have to pay towards the cost of your claim.
There are different excesses that may apply.

There is a standard (or compulsory) policy excess which applies to all claims, although the amount you need to pay may increase depending on the type of claim you want to make.

For example, the standard excess on your policy may be £100, but will increase for a claim for water damage or subsidence to your property.

You will need to check your Insurance Schedule/Statement of Fact to show whether one excess or two will be payable if you need to claim on more than one part of your buildings or contents policy for the same event. If you only pay one, this will be the highest excess that applies to the parts of your policy that you’re claiming under.

You may have also added a voluntary excess when you took your policy out in exchange for a lower premium. This excess will be added to the standard (or compulsory) excess in the event of most claims.

Details of all your policy excesses can be found on your Insurance Schedule/Statement of Fact which can be found in your online account or your policy confirmation email.

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