What is excess in health insurance

An excess amount means you pay a portion of each claim or of your overall claims, with the balance covered by the insurer. There are two types of excess: Inpatient excess and Outpatient excess.

What does excess mean in an insurance policy?

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.

What does 500 excess mean?

Insurance excess is a pre-agreed amount of money that you need to pay to your insurance provider in the event of a claim, such as a car accident or a flood at home. In many cases, you'll be asked to pay the excess immediately so that the claim process can begin.

What is excess and how does it work?

Many policies include an excess. This is the amount you have to pay if you decide to make a claim on your policy. It's a way of you accepting a small portion of the risk yourself. The amount of the excess is specified in your policy.

What does excess mean on cover?

An excess is the amount you pay towards the cost of your claim for each incident covered by your policy. The total excess you are required to pay is determined by the circumstances of your claim. There are different types of excess, including: standard excess.