this is the amount of money that you contribute towards the cost of a claim. With there is no excess as standard
on instrument or equipment insurance, but you can choose to pay a voluntary excess – and doing so will reduce your premium, typically by around 12.5%.
There is a £500 excess for claims made for damage to a third persons property.
There is a £50 excess (for each and every item) for breakdown claims.
See also minimum claim.