What It Is: Excess cover is the amount you must pay towards the overall cost of an insurance claim. It is only applied in cases where the policyholder is at fault.
The Story: Tom had always been a cautious driver. One day, he unfortunately found himself at fault in a minor collision. Thanks to his excess cover, Tom was responsible for only a fraction of the overall repair costs, a sum that was manageable and predefined in his policy. It represented Tom’s share in the claim, showcasing a structured way to handle the financial aspects of unforeseen accidents.
Last modified: October 31, 2023
