Excess refers to the amount that you are responsible to pay as per the policy terms
& conditions in respect of each and every claim payable (including cost and
expenditure incurred by the insurance company to conduct, defence and settlement
of any claim for the loss or damage to your vehicle, and damage to third party property
resulted from the accident arising out of the use of your vehicle for liability
to third parties), in addition to any other excess that may be applicable. For example,
the excess of your policy is RM200 and the total claim amount is RM1,500. Your insurer
will only pay out RM1,300 for the claim while you have to pay the remaining RM200.