The first part of the cost of a claim which the insured must bear and which will be deducted from their claim.
- A compulsory excess is one which the insurance company applies, for example ₤50, and where one is applied, this will apply to all types of loss covered by the policy.
- A voluntary excess is one chosen by the insured which is in addition to the compulsory excess. In return, the customer receives a discount or reduced rate of premium. This type of excess does not apply to the set excess for any particular section, for example subsidence, where the excess could be a ₤1000

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