Excess - A fixed amount of money which the insured agrees to contribute toward the cost of a claim under an insurance policy.
The specified amount a policyholder must bear before the insurers pay a claim. The inclusion of an excess, whether compulsory or voluntary or both, lowers the premium.
Excess : a fixed amount of money which the insured agrees to contribute toward the cost of a claim under an insurance policy.
the specified amount a policyholder must bear before the insurers pay a claim. the inclusion of an excess, whether compulsory or voluntary or both, lowers the premium.
Excess