Home Insurance Excess Explained

Home insurance excess is the portion of an eligible claim that you may have to pay yourself.

Overview

Check whether the excess applies per claim or under particular sections, and whether different types of loss have different excesses.

What should you check?

• Read the policy definitions, limits and exclusions.
• Check the excess and any waiting or notification requirements.
• Understand what evidence may be required for a claim.
• Compare equivalent levels of cover rather than comparing price alone.

Why policy wording matters

Insurance is a contract and the precise terms determine when a claim can be accepted. Marketing summaries can be useful for orientation, but the policy documents should be treated as the authoritative source for the coverage you are considering.

Common questions