The deductible or excess is the amount or portion the policyholder bears before or alongside the insurer payment.
What to compare
A useful comparison records the contract details, not merely marketing labels. Start with the following fields and use the same assumptions for each option.
- Standard deductible
- Special deductibles
- Percentage deductibles
- Annual versus per-claim application
- Voluntary versus compulsory excess
| Field | What to record | Why it matters |
|---|---|---|
| Standard Deductible | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Special Deductibles | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Percentage Deductibles | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Annual Versus Per-Claim Application | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
| Voluntary Versus Compulsory Excess | Record the exact wording, amount, condition, or document reference for every policy. | Do not assume another quote uses the same definition or default. |
A practical comparison sequence
- Define the risk and the outcome you need the policy to address.
- Use identical applicant facts, dates, limits, deductibles, and options for every quote.
- Save the quote, application answers, product summary, full wording, schedule, and endorsements.
- Test at least two realistic claim scenarios against definitions, exclusions, limits, and duties.
- Verify the legal insurer and intermediary on the official local register.
- Record unanswered questions and obtain written clarification before accepting cover.
International differences
Terminology differs: many markets use “excess,” while others use “deductible.” The legal operation can also differ.
That means a guide written for one country should not be copied into another without checking compulsory insurance, public benefits, permitted underwriting factors, disclosure duties, taxes, cancellation rules, complaint bodies, and policyholder-protection arrangements.
Common mistakes
- Choosing an unaffordable amount.
- Missing separate catastrophe or glass deductibles.
- Assuming one deductible applies everywhere.
Another common mistake is treating the product name as a complete description. Terms such as comprehensive, standard, premium, family, worldwide, replacement, or full cover can be marketing labels rather than standardized legal definitions.
Questions to ask before buying
- Where is standard deductible stated in the contract, schedule, or product summary?
- Where is special deductibles stated in the contract, schedule, or product summary?
- Where is percentage deductibles stated in the contract, schedule, or product summary?
- Where is annual versus per-claim application stated in the contract, schedule, or product summary?
- Where is voluntary versus compulsory excess stated in the contract, schedule, or product summary?
- Which legal entity underwrites the policy, and where can its licence be checked?
- What must happen before cover begins, and can any term change after underwriting?
- What is the complaint and dispute path for the issuing jurisdiction?