‘Excess’: Insured, but still responsible

‘Excess’: Insured, but still responsible Covernote left Representative image. Getty Images/iStockphotos Getty Images/iStockphotos https://th-i.thgim.com/public/incoming/usn5vf/article71623115.ece/alternates/FREE_1200/iStock-1452132542.jpg mediaphotos Close up of man filling in medical insurance form, injured hand in sling in background, copy space The NCB rewards claim-free years, either through a discount on renewal premium or an increase in the sum insured, depending on the type of policy. In the previous instalment of Cover Note (October 5, 2026, Policy ‘excess’ does not mean more for you), we saw that an excess or deductible means the first portion of an admissible claim that you must bear yourself. But why excess? In a motor policy covering a ₹20 lakh car, what difference does a few thousand rupees make? Why do some health policies require a co-payment? ‘Excess’: More to pay, not more to receive ‘Excess’: More to pay, not more to receive Some policies have a compulsory excess.