THE SHORT ANSWER
The excess is the part of an eligible claim cost you pay yourself. A deduction for age concerns how the damaged item is valued instead. Both can affect the same claim.
Start by asking whether the event is covered. Then read the valuation rules, any limits and the excess. A high insured amount does not mean the full purchase price will be paid. [1][2]
Keep these points in mind
- An excess and depreciation are different deductions.
- One policy may have different excesses.
- A calculation is not a claims decision.
STEP BY STEP
How to check your cover
Find the relevant type of event
Write down what happened, when and which item was involved. Then find the section covering that event. Theft, a leak and a dropped item may be assessed under different parts of the same agreement.
The product name is not enough. Also check whether the section depends on a particular add-on being included.
Read the excess for that particular event
Start with the policy letter, then check whether the terms specify a particular excess. It may differ from the standard excess. Read both kronor amounts and any percentages.
Note the clause you found. If two details appear to contradict each other, ask the insurer to explain which applies to your case.
[1]Keep the limit, deductions and decision separate
Record the maximum amount, valuation rule and excess separately. Then ask the insurer to show how these are applied in its claims decision.
Do not treat a preliminary calculation as money you will receive. Exclusions, security requirements and the actual event may affect the assessment.
Find the supporting documents with Forsio
In My Forsio, you can see information from your insurance documents. Claim check Beta helps you find sections of the terms that may be relevant to an event you describe.
Claim check does not calculate a guaranteed payout or replace the insurer’s assessment. If an excess or valuation rule cannot be established, more documents are needed. A missing figure does not make the excess zero.
Fictional calculation
Two different deductions
Assume the event is covered and no other limits apply. The figures only illustrate the difference between the deductions.
- Value before the deduction for age
- 10 000 kr
- Deduction for age in this example
- 2 000 kr
- Excess in this example
- 1 500 kr
- Remaining in the calculation
- 6 500 kr
An actual insurer may use different valuation rules and excesses. This example does not describe real policy terms.
Common questions
Is the excess always a fixed amount?
No. How it is stated depends on the policy and the event. Also read any special excesses and minimum amounts. [1]
Will I always receive a new, identical item?
No. The valuation rules determine the value used to calculate compensation. An older item need not be compensated at its new purchase price. [3]
MY FORSIO
Keep the terms close when something happens.
Bring your policies together and use Claim check Beta to find relevant terms. The insurer decides the claim.
Sources and references
Sources checked
This guide explains general principles of Swedish insurance. Your policy schedule and terms set out what applies to you.