Letsema Insurance Brokers

Understanding Policy "Excess"
What exactly is an "Excess"? Let’s break it down.

When you buy motor or property insurance, you will always see an amount called the "Excess." This is the first amount you agree to pay out of your own pocket when you make a claim.
Example: If your car repair costs P10,000 and your excess is P2,000, the insurance company pays P8,000.
Pro-Tip: Choosing a higher excess can lower your monthly premium, but always make sure it’s an amount you can comfortably afford at a moment's notice!

Itshwaraganye le rona
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