When do you pay home insurance excess

You pay home insurance excess whenever you make a claim on your policy, no matter how small the claim might be. On certain types of claims, different excesses may apply. For example, if you have accidental damage cover as part of your contents insurance policy, the compulsory excess might be higher.

Do you pay excess every time you make a claim?

When do you pay excess on car insurance? You pay the excess in the event of any claim made on your insurance policy regardless of who's to blame. However, if it's proved the accident was the other person's fault and the full cost is recovered from their insurer, you may be able to recover this amount.

How does excess insurance work?

Insurance excess is the amount you have to pay towards the overall cost of an insurance claim. It's usually a pre-agreed amount. Your insurer will then contribute the rest – up to the limit of the cover. You'll see insurance excess on insurance products like travel, motor, home and health.

Who pays the excess?

What's an excess? When you make a claim, your excess is the dollar amount that comes out of your pocket when your vehicle needs repair. The rest is covered by your policy. For example: If your repair bill is $10,000 and your excess is $500, then you pay $500 and your insurer pays $9,500.