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What Does the Excess Mean on Travel Insurance

You always wanted to know what does excess mean in travel insurance, but were afraid to ask. Check your guide to Travel Insurance Excess and choose the right cover for you and the trip you are taking.

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What Does the Excess Mean on Travel Insurance

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  1. What Does the Excess Mean on Travel Insurance? globelink.co.uk

  2. What is an Excess? If you make a claim on your Travel Insurance Policy, the Excess is the sum that the insurance company will deduct before they pay out.

  3. How does the Excess work? The way the Excess works is as follows: if you make a successful claim for £300 and your policy excess is £50, you will receive £250, because you are responsible for the first £50 - which is your Excess.

  4. Who pays the Excess? Travel Insurance Excess is usually applied per person, per claim, unless stated otherwise in the policy. Everyone named on the policy will have their own excess applied.

  5. Will the Excess affect my Insurance Premium? It probably will. However, the cheapest policy may look great at first glance, but watch out for higher Excess Levels.

  6. Why is it important to know your Excess levels? It’s important to know your excess levels per Section, so you can make an informed decision about whether it’s the right Travel Insurance for you. Spending slightly more on your insurance in the first place, could save you a fortune.

  7. What is an Excess Waiver? It means, if you make a claim that is accepted, the policy will pay out the full amount with a nil Excess deduction. The cost of an excess waiver is usually per person.

  8. Do I need Excess Waiver? It is a good idea if you wish to avoid any Excess deductions in the event that you make a claim. Excess Waiver is usually pretty inexpensive so it’s always worth considering.

  9. Waive the excess for an additional premium with Globelink Insurance! READ MORE

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