What is an Excess?

The first part of a claim which the insured is expected to bear. It is usually a fixed amount or a fixed percentage of a claim.

• Related Articles

• What is a Deductible?

  It is normally a large excess. The insured cannot claim loss amounts which fall within the deductible.

• Taxify Personal Accident Policy

  PREAMBLE   Whereas TAXIFY SHAREHOLDERS SPV OU (TAXIFY) has applied to Star Assurance Company limited (Hereinafter called the Company) for the insurance herein contained and has paid the premium in consideration for such insurance. The Company hereby ...