Welcome back to ‘savvy in 60’! In this series, we look at some common insurance terms and cover options to help you become more insurance savvy.
The topic for the day? Excess.
Now, this is a word that gets used a lot in the insurance industry. And it basically refers to the first amount you (as a client) need to pay in the event of a claim.
Like all insurers, King Price requires you to pay a basic excess amount, before we pay out your claim. So you need to make sure that you can actually afford to pay your excess if anything goes pear-shaped.
The silver lining? We give you the option to choose the excess that suits your wallet! And, if you’re over 45, you also have the option to choose 0 basic excess. For premiums that decrease monthly and the freedom to choose your own excess, visit kingprice.co.za, leave your deets and we’ll get in touch.
Stay savvy. Until next time.