When you make an insurance claim, you usually have to pay an excess. For example, if the claim is for £1,000, and you had an excess of £150, you would be paid £850. The excess is usally fixed, no matter how high the value of the claim.
Insurers use the excess to discourage people from making very small claims, and hence keep the price of policies down for everyone.
When buying contents insurance, you will be asked to choose the value of excess you want during our purchase journey. The excess is usually higher for certain types of claim, like escape of water. Make sure you read your Quote Summary document to see the excess levels for each claim type.