14/10/2026
Insurance Term of the Month: Excess
What does it mean?
The excess is the amount you agree to pay towards a claim before your insurer pays the balance, subject to the policy terms.
Example:
Your claim is R50,000 and your excess is R5,000. You would contribute R5,000, with the insurer potentially covering the remaining R45,000.
KCIB takeaway:
A lower premium can sometimes come with a higher excess, so always consider both when reviewing your cover.
Kerry Curtin Insurance Brokers is an Authorised Financial Services Provider
Reg. 2017/426329/07
FSP. 52405
