Your excess is the first amount of a claim that you pay before the rest of your claim is paid. This is usually a small amount relative to the claim and is there to protect the community from over-claiming for very small damage incidents.
Below is a list of excesses which apply for policies from November 2024:
📱MY STUFF (ALL-RISK) PRODUCT:
The EXCESS ON A CLAIM = 17.5% of the claim value, with a minimum of R1100.
NOTE: There will be an additional excess of a minimum of R1100 or 17.5% of the claim value for all items when claiming within the first 6 months of cover.
🚗MY WHEELS (MOTOR) PRODUCT:
📲 You are able to choose your excess level when creating your policy. This will be the amount payable by you when claiming.
NOTE: As is commonplace, there may be specific conditions where a different excess may be applied. These are fully stipulated on your policy schedule, but here are some specific cases:
When claiming for broken windows or cracked windscreen there is a reduced excess applicable of R1250
Additional excesses of R6200 each may apply in one or more of the following circumstances:
-When claiming within 6 months of signing up
-When the regular driver/spouse of the regular driver is not driving the vehicle at the time of the incident- Where your license is less than 3 years old
- Where you are under the age of 25
- Where the incident occurred between 10 pm and 6 am
- Where the incident occurred outside of South Africa
🏡MY HOME-THINGS (CONTENTS) PRODUCT:
The excess will be 5% of the claim or a minimum of R2350 per claim.
NOTE: There will be an additional excess of R2350 for all items when claiming within the first 6 months of cover or from adding a new risk item.