What is an excess on insurance claims in South Africa?

Excess on insurance claims in South Africa:

An excess is a co-payment on insurance claims in South Africa, it is also known as First Amount Payable. Its main function is to deter petty claims and to
ensure that the insured takes responsibility for their actions therefore helping to prevent fraudulent claims. The amount varies on the type of claim it
is and also the sum insured of the item, for instance a motor claim could result in an excess of 5% minimum R1 500 and a buildings claim could be R500.

This information has been provided by Cindy Alfino, Insurance Authorised Representative – FSP 23418. For more information please use the contact form
or email risk@incompass.co.za.