Is it better to have excess or no excess?

Is it better to have excess or no excess in insurance depends on your finances and risk, but generally low excess $100 to $250 is better if you cannot afford large out of pocket, while high excess $1,000 is better if you want lower premium and can afford $1,000 for claim. Excess is amount you pay first before insurer pays, for home $500 to $1,000, car $500 to $800, jewellery contents $100 to $500, standalone $0. Having excess $1,000 reduces premium 10% to 20%, saving $150 to $300 per year on home insurance $1,800 versus $2,000 with $250 excess, so over 5 years you save $750 to $1,500, but if you claim once, you pay $1,000 extra. Having no excess $0 means higher premium $200 to $400 more per year, but you pay $0 at claim time, better for cash flow and for small claims $400 to $1,000 where excess would wipe out claim. For example, $3K ring with $250 excess, you get $2,750, with $0 excess you get $3K, difference $250 but you pay $30 extra premium per year. For jewellery, $0 excess standalone $150 to $300 per year for $10K ring is better than contents with $500 excess, as you get full $10K if lost. So better to have low excess $100 to $250 or $0 if you cannot afford $1,000 out of pocket, have frequent small claims or expensive jewellery, better to have high excess $1,000 if you have emergency fund $1,000 to $2,000, want save premium and only claim for large losses over $5K.