When a leak, fire or theft occurs, the practical question is often: how much will remain for me to pay?
Read the figures together
An excess is the amount or share you retain under the policy. A limit caps what the insurer will pay. Valuation rules then determine the amount to which those figures apply.
A simple example: if a covered €1,000 loss has a €150 fixed excess and no other adjustment, the theoretical payment is €850. Real claims can differ because of depreciation, sub-limits, exclusions or underinsurance.
Check which excess applies
One policy can use different excesses for water damage, theft, glass, weather events and liability. A percentage excess can behave very differently from a fixed amount.
Check sub-limits
Jewellery, bicycles, electronics, cash and outbuildings often have their own limits. A generous overall contents limit does not guarantee that every item is covered up to that amount.
Understand valuation
Ask whether settlement is based on current value, replacement cost or another method, and whether full replacement payment depends on buying the item again within a time limit.
Compare with a scenario
Use the same realistic event for every quote and record: covered event, excess, limit, valuation rule, assistance and evidence required.
Further reading
Your Europe — insurance products in the EU. Contract wording and national rules remain decisive.