excess

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excess

the amount that an insured person has himself to pay towards a claim.
References in periodicals archive ?
However, the excesses for these drivers saw the smallest increases.
He added: "Insurers know consumers are more comfortable with higher excesses as they're now standard in motor insurance."
The group warned that paying multiple excesses could severely reduce the amount of money people received from their insurer when settling a claim.
Depositories would need to hold higher levels of excess reserves at Federal Reserve Banks as a precaution against such overdrafts, and demand for these excesses would vary from day to day and be difficult to predict.