Requirements

• Car insurance excess payments are made to a repair shop when damage has been repaired after an accident. When a car is a total loss the excess amount will be deducted from the insurance payment. Health insurance excess is an amount that is paid each policy year and is deducted from the amount that is reimbursed from a health insurance policy.
  
  

Compulsory Excess

• One type of excess that applies to automobile insurance is compulsory excess. This type of excess is the minimum amount an insurer will accept when providing an automobile insurance policy. The minimum amount of excess for an individual can vary depending on factors such as their driving record and personal information. Younger drivers typically pay a higher excess payment than drivers who are more experienced.
  
  

Voluntary Excess

• Voluntary excess is an amount that is paid above the compulsory excess on an automobile insurance policy. Paying a voluntary excess amount can reduce the premium that an individual will need to pay for their insurance policy. This is because when a larger excess amount is paid the less an insurer will need to pay when there is a claim. As a result the automobile insurance company can offer a lower premium for a policy.
  
  

Per Confition Excess

• One type of excess amount that is paid for a health insurance policy is known as a per condition excess payment. This type of excess is paid once for the treatment of a certain type of condition. This means that if a condition requires multiple treatments only one excess payment is required. If a $50 excess applies and three visits were required for treatment any amount over the excess will be reimbursed by the insurance company.
  
  

Per Year Excess

• Medical insurance excess payments that are agreed upon when a policy is purchased can be set on a per year basis. When the excess amount has been reached for the year all expenses paid by an individual will be reimbursed by the insurance company. Individuals that have an excess amount of $500 per year will need to pay expenses until the amount has been reached. One the yearly excess amount has been paid all additional medical expenses will be reimbursed.