How an excess payment works!
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Last Update 3 tahun yang lalu
An excess amount is agreed upon by you and your insurer. It is what you have to pay in when a claim is being settled.
Here’s an example:
If the excess on your car is R4000 and you are involved in an accident and this costs R20 000 in repairs, then your insurer will pay in R16 000 and you will pay in R4000.
Pro tip:
If you pay a higher excess, then this means your monthly premium will be lower which can save you money but means that you will have to pay in more in the event of an accident.