Excess is a small part you pay when you make a claim to assume part of the risk. This is an acceptance of the risk on your part.
Continue reading “Insurance 101: Excess – what does it mean?”
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It is always wise to read your policy every now and then to check if it meets your needs. Your insurance policy may have a lot of gems that you did not know about when you took it, and it would prove to be useful in the unfortunate event you need it.
Pick someone at random and there is a high probability that person does not have health insurance. And why would they? Healthcare in Seychelles is free, isn’t it? But does that equate to health insurance? Most certainly not! Let’s look at the increasing number of people that are going overseas for treatment and paying out of pocket. The reality is, a lot of people require tertiary care that Seychelles simply cannot provide.
Usually, before proposing a cover, we want to identify the replacement cost of the asset being insured in order to assess the risk we are taking on before giving a quote. However, we understand that clients are not very likely to be qualified in calculating such costs, which may result in an incorrect estimation of the true value. Therefore it is imperative that you do your due diligence to ensure your assets are valued correctly. You can do this by:
…is undervaluing your assets.
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