A policy excess is the amount which you are responsible for in the event of making a claim. All insurance policies contain excesses and this amount is not insured.
For example: If the excess on your policy is €200 and you put in a claim for €500, you must pay the first €200 and will be left with €300 after paying the excess.
In certain circumstances you will have the option to increase or decrease your excess. If you decrease the excess, it will result in a higher insurance premium but a lower excess at point of claim. If you increase the level of excess, it will entitle you to a premium discount however you will pay a higher excess should you need to claim.