Everything you need to know about insurance excess

What is insurance excess?

Insurance excess (compulsory or voluntary) is the amount you're responsible for paying in case of a claim or theft. Your insurance coverage only activates after you've settled the excess.

For instance, if your excess is DKK 2500, your insurance coverage begins only when the damage exceeds that amount.

Some of our insurance policies offer the option of selecting a zero excess. This means you won't incur any out-of-pocket expenses for the claim, as the entire amount is covered.

Various excess levels on insurance policies

The excess amount varies among insurance policies, allowing you to tailor your excess on some of them.

There are advantages and disadvantages to excess, which you can explore here.

Advantages of excess

• You typically get a lower insurance premium. The higher your excess, the lower your insurance premium.
• You can tailor your insurance to your budget and specific needs.

Disadvantages of excess

• You may have to pay for part of the damage cost, which can impact your finances if you have a high excess.
• You might face substantial financial expenses if you have multiple claims.

How can I determine my insurance excess?

To find out your excess, log in to My Page to access an overview of all your insurance policies.

Here, you can see how much you would need to pay as an excess in the event of a claim. If you have a zero excess, it will be indicated on the list.

Insurance excess for sudden and electronic damage

For Home Contents Insurance policies purchased before 23 August 2021, there is a compulsory excess of DKK 1,209 in case of sudden or electronic damage.

If you bought the insurance after 23 August 2021, your excess will be specified in your insurance agreement.

Compulsory excess on specific coverages

Certain coverages come with a compulsory excess, as outlined in the terms and conditions, even if you initially selected a zero excess.