An insurance excess is the amount you generally pay towards an approved claim before your insurer contributes. Some policies have standard, voluntary, age or special excesses, and the amount can affect your premium, but the relationship varies between insurers and cover types. There is no single 2026 excess or rule that applies to every Australian policy, so check your renewal documents and Product Disclosure Statement (PDS). Ask your insurer or a licensed adviser how changing the excess could affect your premium, claim costs and cover.