What is Excess (Motor) | Insurance glossary by upcover

An excess is the amount the insured pays towards a motor insurance claim before the insurer pays the rest. Motor policies may apply a basic excess, an extra excess for young drivers, and a voluntary excess the insured chooses. A higher excess usually means a lower premium.

Related Terms

Sum Insured (Strata)

Market Value Cover (Strata)

Replacement Cost Cover (Strata)

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Related Term

Sum Insured (Strata)

Market Value Cover (Strata)

Replacement Cost Cover (Strata)

All Category

Financial

Legal

Insurance Documents

Fundraising

Employment

Policy

Risk Management

E&O

D&O

Commercial Insurance

Cyber

Compliance

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