A policy excess is an amount you must pay for each claim you make for certain benefits, as detailed in the policy. When you buy your policy online, we will let you know the excess levels available – either $0, $100 or $200 – and the applicable premium you have to pay. Your chosen excess will then be shown on your Certificate of Insurance.
So for example if you select an excess of $100 this means that if you claim with us, we'll deduct $100 from your claim before we make any payment to you. this means that if you claim with us, we'll deduct $100 from your claim before we make any payment to you. The excess is payable for each event;, it's not a once-off payment.
You can reduce the excess to $0 when you buy your policy by selecting this option and paying and additional premium.Likewise, you can increase it to $200, doing so will reduce the premium for that particular policy. You can't change your excess once you have bought your policy.
An excess will apply if you need to claim on any of the following benefits;
- Overseas medical expenses
- Emergency dental
- Cancellation costs
- Additional Expenses/Medical evacuation
- Loss of Income (The Works and AMT plans only)
- Luggage and Personal Effects
- Personal Liability
- Business travel (AMT only)
Here are some examples of how we apply the excess when you claim -
- Example 1: You need to see a GP for treatment of an ear infection. The consultation fee and medication come to $120. Your policy has an excess of $100 per claim. After applying your excess, we will pay you $20.
- Example 2: On one day of your trip your phone is stolen; on another day you fall ill and need to see a doctor and get medication. You originally paid $700 for your stolen phone, and the medical bill to $310. We will deduct the excess from each claim, as they are two different events. If your policy excess is $200, we will pay you $500 for the phone and $110 for your doctor's visit.
- Example 3: You are bitten by a monkey and need to go to outpatients at the hospital for a rabies shot. A week later you need a follow up shot. The total charge for both visits comes to $220. These are part of the same event, so after applying the $200 policy excess, we will pay you $20.
Please refer to the policy benefits table in the PDS for more information