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Excess
The mortgage definition for Excess:
Applies to an insurance claim and is simply the first part of any claim that must be covered by yourself. This can range from £50 to £1000 or higher. Increasing your excess can significantly reduce your premium. On the other hand, a waiver can sometimes be paid to eliminate any excess at all. Always check the excess in your policy.
Similar MatchesInsurance excessInsurance excess Applies to an insurance claim and is simply the first part of any claim that must be covered by yourself. This can range from £50 to £1000 or higher. Increasing your excess can significantly reduce your premium. On the other hand, a waiver can sometimes be paid to eliminate any excess at all. Always check the excess in your policy.
Policy excessPolicy excess The amount you will have to pay when you make a claim. For example, this may be the first £100 of a £1000 claim for damage caused by a fire.
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