Part of the damage remains with you.
The excess is the amount or share that you bear yourself in an agreed claim. How it is calculated depends on the contract. It can apply, for example, per claim, per benefit area or per year. These differences matter more than the figure alone.
Only compare offers with similar benefits.
A contract with an excess can be cheaper. But that does not mean it is the better choice for you. First check the cover, exclusions and benefit limits. Only then can you judge what you are giving up for the lower premium.
- How often can the excess apply within a year?
- Does it also cover minor damages?
- Could you pay the amount at short notice from your own savings?
Plan for a claim, not just for the premium.
An excess should match the savings you have available. If the amount would get you into difficulties in the event of a claim, a supposed saving is of little help.
Have unclear clauses explained before you sign. Keep the answer in writing and check whether it matches the policy terms.
This guide is for general orientation only. Current statutory rules and the terms of your specific contract are decisive. For individual decisions, you should seek qualified advice.