In the event of you having to make a claim, the policy excess will be deducted from the amount you receive back from the insurers.
You have £500 worth of medical costs
The excess on this part of the policy is £150
In this case the max you would get back from the insurers is £500-£150 = £350
If you select the excess waiver option then you will be able to claim the full amount back, so in the example above you would get £500.
The quickest way to view the excess amounts on each area of our policies is by looking at the applicable statement of insurance document, which can be found here.