You may be charged an excess amount when you lodge an insurance claim
Make sure that you are financially prepared
Did you know that insurers apply excesses to minimise claims for small losses? This is because the small losses incurred by most customers lead to high administrative costs, which would make insurance premiums unaffordable for everyone.
In short, insurance can make the consequences of an unforeseeable loss more manageable and excess payments encourage you to take responsibility for your possessions’ risk management.
Excess buy-down or excess waiver cover is an additional amount you pay over and above your standard insurance premiums. In the event of a claim, you may have to pay an excess amount depending on the nature of the loss. Having excess buy down or excess waiver cover can prevent cash flow issues.
At ProVérte Risk Management, we understand that every business decision depends on your ability to secure its fulfilment. Making sure that there are minimal to no interruptions as you grow your business could mean the difference between success and failure.
Contact us to assess your risk requirements and ensure that your business is financially prepared.
Although all possible care was taken in the drafting of this document, the factual correctness of the information contained herein cannot be guaranteed. This document does not constitute advice and anyone planning on taking any financial action based on this document, is strongly advised to first consult with their personal financial advisor. ProVérte Risk Management is an authorised financial service provider with FSP no. 51584.