What is travel insurance excess and excess waiver?

 

Travel insurance excess is the amount you may need to contribute towards a claim, while an excess waiver is an optional add-on that means you wouldn’t need to pay this amount if you make a claim.  

 

Travel insurance terms like ‘excess’, ‘premium’ and ‘cover’ can seem confusing at first. But understanding them helps you choose the right policy and know what you may need to pay if you make a claim. 

 

In this guide, you’ll learn: 

 

• What travel insurance excess means: The amount you pay towards a claim before your insurer pays the rest 
• How travel insurance excess works: Excess is usually charged per claim and may apply to different sections of your policy 
• How to remove travel insurance excess: An excess waiver can reduce or remove the excess you would normally pay. 

Travel insurance excess is the amount you pay towards a claim before your insurer pays the remaining cost.  

 

Most travel insurance policies come with a compulsory excess. If you make a claim, the excess is usually deducted from the amount paid to you. Having an excess helps keep premiums lower, while still giving you financial protection when you travel. 

Claim value: £600 

Excess – amount paid by you: £100 

Amount paid by insurer: £500 

Excess usually applies per claim rather than per policy. That means if you make more than one claim during your trip, the excess may apply each time. Imagine you: 

 

• need medical treatment abroad 
• also lose your luggage during the same trip 

 

As these are separate claims, an excess may apply to each claim. Your policy documents will explain exactly when excess applies and how much you may need to pay. 

Often, choosing a higher excess can help lower the cost of your premium. Policies with a lower excess – or no excess – may cost a little more. 

 

Before you take out a policy, it’s important to make sure you’re comfortable with any amount of excess, and that you’d be able to afford it if you ever needed to make a claim. 

Not all excess works in the same way. Understanding the different types of excess can make it easier to compare your options. These are the main types you may see on a travel insurance policy.

This is a fixed amount set by your insurer. It automatically applies when you make a claim. Most travel insurance policies include a compulsory excess.

Some policies allow you to choose to increase your excess. This can lower the cost of your premium. However, it also means you’ll pay more if you need to make a claim.

On some policies, the excess applies to each person insured on the policy who makes a claim.

In some cases, the excess may apply to each individual incident rather than per person. Your policy wording will always confirm how excess works. 

Yes. The excess can vary depending on the section of the policy. For example, the excess for emergency medical expenses, trip cancellation or lost baggage may not always be the same. 

 

Some sections, such as travel delay benefits, may not have an excess at all. Always check your policy documents to understand exactly what applies. 

A travel insurance excess waiver is an optional add-on that removes the excess you would normally pay when making a claim. It’s like a safety net. 

 

Adding a travel insurance excess waiver to your policy will cost you a little more, but it means that if you make a claim, you will not have to pay the excess. Here’s an example: 

 

Without an excess waiver: 

 

• Claim value: £500 
• Excess: £100 
• You receive: £400 

 

With an excess waiver: 

 

• Claim value: £500 
• Excess: £0 
• You receive: £500 

Yes, adding an excess waiver usually increases the cost of your premium. However, many travellers choose it because it means they won’t have to pay an excess if they make a claim. 

 

It’s simply about choosing what feels right for your travel plans and budget. 

Staysure’s Signature policy comes with no excess to pay, as it includes the excess waiver add-on as standard. If you choose Staysure’s Comprehensive policy, you can add an excess waiver when you buy your policy but it can’t be added at a later date.

 

It’s important to read through your policy carefully, so you know what you are and aren’t covered for, as well as how much excess applies. 

The right excess depends on your personal preference. A higher excess usually means a lower premium, while a lower excess may mean a higher premium.  

 

Before choosing a policy, you should consider if you’d feel comfortable paying the excess amount if you do need to make a claim. Finding the right balance can help you travel with confidence.

 

Before choosing your policy, take a moment to check: 

 

• The excess amount per claim 
• If excess applies per person or per incident 
• If different sections of the policy have different excess amounts 
• If an excess waiver is available 

 

Understanding these details helps you know exactly what to expect if you ever need to make a claim. 

 

If you’re unsure about the excess on your Staysure travel insurance policy, you can check your policy documents by logging into your My Staysure account.

 

You’ve got dreams to fulfil and adventures to chase. With the right travel insurance in place, you can focus on enjoying every moment. 

 

We specialise in providing travel insurance for over 50s, so you can travel knowing we’ve got your back. If you’re travelling with a medical condition, explore our travel insurance with medical conditions cover, designed to help you travel with confidence.  

 

Get a quote today.