What is an Excess?

Excess is the amount that you are required to pay or bear for each claimable event under your policy. The excess on claims depends on the excess you chose at the time that you purchased your policy and will be listed on your Certificate of insurance.  

Below is only an example of how an excess might work: 

For example, if you selected the $200 Excess for your policy, and you made a claim for medical expenses for $1000, you would get back $800. If you had a NIL excess on your policy, you would get back the full $1000. 

Other factors may apply when an excess is applied, for example, the excess is deducted after any depreciation and/or limits have been applied to the claim amount.

Eligibility criteria, policy terms, conditions, exclusions and limits apply. Consider the PDS prior to deciding on which policy is right for you and your needs.