Insurance Excess (Deductible)
An 'excess', commonly known as a deductible, is a standard feature in insurance policies that stipulates the insured individual must pay a certain amount of a claim themselves. [4, 13] This requirement makes the policyholder financially responsible for a portion of the loss, which in turn provides a direct incentive to take greater care and avoid risks. [4, 13]
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Insurance Excess (Deductible)
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