Accidents happen and when they do, we breathe a huge sigh of relief knowing we’ve got comprehensive car insurance in place. But can you honestly remember the exact excess you negotiated when you took out your policy?

Imagine you’re in a fender bender, and just when you think your car insurance has you completely covered, you’re hit with a R10 000 excess!

There’s only one thing worse than being involved in a car accident – it’s discovering you agreed to a super-high insurance excess when you took out the policy, and now you don’t have the money to cover it.

What is a car insurance excess?

A car insurance excess, also known as a deductible, is the amount of money you agree to pay out of your pocket when you make a claim against your car insurance policy. It’s essentially your contribution towards the cost of the claim, with the insurance company covering the rest. 

Here’s how it works:

Example: If your excess is R10 000 and you make a claim for R90 000 to repair your car after an accident, you’ll pay the first R10 000, and your insurer will cover the remaining R80 000.

But what if you don’t have R10 000 lying around?

In exchange for a more affordable monthly car insurance premium, many of us negotiate a higher excess when we take out our car insurance policy. It’s a double-edged sword – while we benefit from a reduced monthly premium, we run the risk of being involved in an accident and having to come up with an exorbitant amount of money that we don’t have lying around.

Don’t worry, there’s a way to avoid this potential financial pitfall!

GENRIC’s Excess Waiver policy is designed to completely cover your car insurance excess.

So, the next time you are involved in a car accident and an excess is payable, you can expect your Excess Waiver policy to pay out and save the day.

Choose 1 of 3 plans that suit your best:

*Premiums may be reviewed annually.

So what’s the catch?

There isn’t one. But here are some conditions to note:

You must have comprehensive vehicle insurance.

There is a three-month waiting period before you can claim against the policy. Regrettably, we cannot settle any excess for accidents you may have had during the waiting period.

The maximum amount payable depends on the plan option you select, but it cannot exceed the excess amount that you owe your short-term insurer.

Example: If you take a R10 000 Excess Waiver plan and the excess you owe your insurer is R7 000, GENRIC will only pay out R7 000

You have the option to pay the policy on a monthly basis or annually.

At claim stage just make sure you get in touch with GENRIC and report your car accident within five working days of the incident. Via email, include a copy of your comprehensive car insurance policy and attach proof that your insurer has accepted liability. 

How often can you claim against your Excess Waiver policy?

On a monthly and annual basis, the number of incidents is unlimited – which is a fantastic bonus!

Trust us to bust your car insurance excess.