Deductible and excess - two ways of saying the same thing

When I was in the UK recently, I was reminded of one of the many different word meanings between the American and British language - yes, they are different languages!

In this case, my brain was buzzing at the disconnect in the two words used to define the same thing. In American - deductible. In British - excess. They are supposed to mean the same thing but in my mind, they should mean the opposite and that really bothers me.

What do I mean?

A deductible defines itself - it's the amount that is deducted from the vet bill to get to the amount the insurance company will pay you. In pet insurance there are annual deductibles and per-incident deductibles.

The excess seems to me to be the opposite - the amount that is above, or in excess of, what is deducted from the total bill. i.e. the amount the insurance company pays you. But that's not what excess means. It is just a different word for deductible in the UK.

So to my British readers - can any of you out there help me understand the word "excess" please?

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