An insurance excess is the amount you generally pay towards an approved claim before your insurer contributes the rest. For example, with a $600 excess, you may need to pay the first $600 of a covered repair, subject to your policy terms. Choosing a higher excess can sometimes reduce your premium, while a lower excess may increase it, but this varies between insurers. Check your policy’s Product Disclosure Statement for the excesses that apply, including any additional or special excesses.