Your excess: what’s it all about?

Understanding how your insurance policy works


2 minute read


While searching for insurance policies, you’ve almost certainly come across the words excess or deductible. But what do they actually mean? Typically, an excess is a fixed amount you pay yourself if you make a claim. You might be wondering why this option exists and how it works. Don’t worry – we’ve got you covered. Let’s look at the topic in greater detail.

Whenever you purchase insurance, you’ll likely be asked to select an excess. Simply put, this is a fixed amount that you would pay in the event of a claim and your insurer would pay the rest. For example, if you selected an excess of £100 and made a claim for £500, you would pay £100 and the insurer would pay the remaining £400.

Why would you want to pay in the event of a claim?

You might be wondering why anyone would choose to contribute to the costs of claims themselves – especially in cases where they don’t have to. However, opting for an excess offers a huge benefit – paying less per month for your insurance. Typically, the higher your excess, the lower your insurance premium.

Getsafe offers many options as an excess, starting at £50 and increasing in increments of £50 up to a maximum of £400. It might surprise you that an excess can be as high as £400, but consider what you want to insure. If you don’t own many valuable items, your premium will likely be relatively low. However, if you own many valuable pieces of jewelry or collect watches, for example, your premium will probably be on the high side. To compensate, you can choose a higher excess. After all, we all hope never to have to use our insurance.


It all comes down to your needs

Ultimately, only you can decide what suits your circumstances. Can you afford a higher monthly premium, or would having to pay your excess in the event be less preferable? Fortunately, Getsafe gives you plenty of flexibility when selecting your excess, so the choice really is yours.

Purchase Getsafe Contents today and find your perfect excess.

Contents insurance starting from 2.71*

*Terms and conditions apply

Author: Jacob