Glossary

Excess

The part of a covered loss the insured must bear, according to the policy calculation; sometimes called a deductible.

By Bene · Last reviewed 23 October 2026

The units matter: ask whether the amount applies to each claim, each incident, each person or a policy period. Do not assume a health-policy deductible works like a liability-policy excess.

Illustration only: with a S$1,000 excess on a covered S$4,000 loss, the simple remainder is S$3,000 before any other limits or conditions. This is not a quotation or claim assessment.

Keep the excess beside the premium in a comparison. A cheaper price may require the company to absorb more of each loss.

Sources

AIG Singapore: Commercial General Liability policy wording
Pages 3, 6–9 and 18: contract, schedule, liability limits, defence costs, deductible and subrogation.
Reviewed 23 October 2026 · Source details