Pay ex­ces­sive at­ten­tion to de­tails

Weekend Argus (Saturday Edition) - - HOME -

THE ex­or­bi­tant cost of petrol, along with most other things, is leav­ing us all short and we have to choose be­tween what we re­ally need and the “nice-to-haves”.

Our com­pany does a lot of work for in­sur­ance com­pa­nies and I am pick­ing up an alarm­ing trend: many are opt­ing to have their valid claims set­tled on a cash ba­sis be­cause they can’t af­ford the ex­cess pay­ment.

Please al­ways en­sure you fully un­der­stand what your ex­cess pay­ment will be in terms of your pol­icy. It is of­ten some­thing that is not fully un­der­stood un­til you re­ceive an ac­count from your ser­vice provider for some­where be­tween R500 and R1 500, de­pend­ing on the in­surer and the event. Ob­vi­ously no one wants to pay R1 000 for a re­pair that is val­ued only at R3 000, so they would rather take R2 000 cash and do the job them­selves, or live with the dam­age.

There are two prob­lems here: many peo­ple don’t re­pair the dam­age and use the money for some­thing more press­ing, or for­get that if the same thing hap­pens again they might not re­ceive a pay-out. Be wise and re­pair, or let an ex­pert do it for you.

We all have to start cut­ting down on the amount of petrol we use. Lis­ten­ing to my favourite ra­dio sta­tion, it be­came clear that driv­ing at 90km/h in­stead of 120km/h will knock about 25% off your fuel bill. I have is­sued an in­struc­tion at work that any­one caught driv­ing over 90km/h will be called in to my of­fice for a chat.

Many opt to make their own re­pairs with the cash pay­out af­ter an in­sur­ance claim. PIC­TURE: ANETE LUSINA/ PEXELS

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.