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What your insurance agent never told you about your cover

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I wrote this piece while in a bus travelling. The possibility of typos here is inevitable. But the post is inspired by an honest conversation, actually a difficult conversation with someone who hated insurance. She wanted ne to explain everything about the cover which I was capable of doing but she was just difficult to please. 

Marriana had a far fetched idea of what insurance was when her husband gifted her with a car. What she knew was as long as you have an insurance certificate on the windscreen, then thats it. There were harsh reallities that she never knew until she ventured into tuktuk business. No one ever told her that there is that first part of the claim that she is supposed to bear as the insured.

What Marriana fought with is to pay and again bear part of the claim. Excess is a very nasty worst to hear when you have an insurance claim. The word “excess” is used to mean that first part of the claim that one has to bear. It is a small percentage of the value of your vehicle added to your premium.  Previously in why you need insurance I mentioned that you should not negotiate the rate to be lower. But rather start with the benefits in the cover then negotiate your rate. Excess is meant to shield the insurer against  really small claims that may be many and uneconomical to pay.

When purchasing insurance cover either motor non motor it is important that you fully understand the particular clauses inserted in your insurance cover. If you are not sure of the risks you are insurance cover had always consult you underwriter or insurance agent to help you understand your cover.