The excess is the amount of money that you will pay towards a claim and is sometimes referred to as a ‘deductible’. So, for example, if your total claim is £200 and you have a policy with an excess of £100 then you will receive £100 back on your claim.
It is very important to understand that excesses on travel insurance policies are generally applied for each person making a claim, and for each section and for each and every incident.
For example, if you were unfortunate to lose your jacket with your wallet in it, your claim would be divided into two parts, one under the Personal Possessions section of the policy for the jacket and wallet, and another under the Money section for any cash that might have been in your wallet.
In this instance, you will find that you would have two excesses deducted from your claim because the excess is applied separately to each part of the claim.
Choosing to buy a policy with no excess may have only cost a couple of pounds more but could save you hundreds of pounds should you need to make a claim.
Remember, when making a claim the excess is usually per person, per claim unless stated otherwise in your policy wording. It may be worth looking for a policy with no excess.