We have weekly controls in place to ensure that the correct amount is debited from your account. Hence deductions will happen in the week that follows key trigger events (usually on a Wednesday).
The events that trigger deductions include
When you add your first item or add a new item or increase the value of items.
When you add an item, you are quoted a premium. Lets say R100.
IF you have added it on the 15th of the month you should only pay half a months premium.
We will raise R50 to your account immediately and it will be deducted on the first upcoming Wednesday.
When your payment for the following month of cover is raised.
Insurance is a prepaid service. We will raise premium at the end of each month for the entire following month and raise the deduction at this point to be deducted on the first upcoming Wednesday.
When you have missed a payment?
If you have missed a payment [provided that it is not the first payment that you have ever made and provided it was by accident, i.e. it was not intentionally cancelled} we will not cancel your cover immediately.
We will raise 2 month's premium at the end of the current month. This will cover pay for this month's cover and the next.
If you miss this payment again, we will cancel your policy.
If you have further problems with payment, please reach out to our friendly and not so boring accountants on the help and support function via the mobile application.