Is claiming excess breaking the bank? Learn about our Rodel Excess Solutions product and the insurance claims process, to avoid that additional unexpected financial payment.
Many of us have been in the situation where we have submitted our insurance claim, thinking all costs are covered, only to see that there are additional costs! The dreaded excess!
Unfortunately, this is not always the case. Let Rodel4U help you understand everything there is to know about excess and provide solutions to avoid unnecessary financial surprises.
What is Excess?
Put simply, insurance excess is the first amount payable that you pay yourself when you make an insurance claim. For example, if your car is insured against accident damage and you have a minor accident that requires the replacement of a door panel to the value of R20 000, you may have to pay the first R2 500, and your insurer will pay the balance.
Rodel4U explains the reason for excess as, “The purpose of excesses is to discourage small run of the mill claims from being submitted to the insurer. The thinking is that excesses will make the insured more careful and responsible.”
Each policy section carries its own excess structure, which could vary from percentage base to a flat excess.
Learn from your mistakes
Excess amounts are put in place to motivate us to be a better drivers and more responsible with our valuables, to avoid putting in frequent small run of the mill claims from being submitted to the insurer.
Will I always be responsible for paying excess
Paying excess in car insurance specifically can be confusing You will always be responsible for paying excess, unless you take out a Excess Solutions policy offered by Rodel. Since the insurer does not place blame as criteria to determine whether you need to pay an excess or not.
Excess breaking the bank
Usually when disaster occurs, we are not financially ready. The excess payable is an unexpected burden. Rodel4U understands what this financial strain can do to you and more specifically your bank balance.
At Rodel we care about you. We are not just an insurance administrator, but we are also a family that looks after our own. Our most recent policy offering does just that, Excess Solutions, offered by Rodel. Finally, a solution to help you in those times of need.
What is Excess Solutions?
Excess Solutions propose to reduce and/or take away by offering excess waiver cover. With this VAP (value-added product) added on to your policy, you can reduce your excess or eliminate it altogether.
In the event of a valid claim, the insurer agrees to indemnify the insured with this excess buy down product by making direct payment into the bank account of the nominated policy holder or relevant motor repairer, dealer or service provider.
How this helps you
- We pay for costs that your insurance policy does not cover when you lodge a claim
- Ensures you are not out-of-pocket when your insurance does not cover your full loss
- Helps you if your claim you submit is less than the excess you are required to pay in
Sign me Up
Do you like what you are reading? We hope so, should you be interested in our Excess Solutions product, contact your Rodel4u Approved broker today.
To find out more and to download the Excess Solutions Product Guide which provides a detailed description of claiming excess and rates.
We look forward to having you as part of our family.