What is an Excess?

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Otherwise called a deductible, is the first portion of a claim for damage to your vehicle. You are responsible for paying this amount regardless of who is at fault. Your insurance will pay for the remainder of the claim. The excess is usually 5% of the Sum Insured:

Motorcar insured for 1,000,000
Accident amounting to 200,000
Excess is 5% of SI or 50,000
You absorb 50,000
We pay 150,000