What do I do in the event of an accident?
The accident must be reported to the SAPS.
Move motor vehicles if there are no injuries.
Exchange details with other party. Full name of driver, Identity Number, Telephone
number and Residential address should be obtained. If possible, details of their
Insurer and Policy Number.
Never admit Liability
What documents are required in the event of a claim?
1.
Claim Form
2.
Loss/Theft to be reported to SAPS
3.
Copy Drivers Licence
4.
Repairers/Replacement quotations
5.
In certain cases Insurers will require proof of ownership
6.
Blacklisting number required for cellphones lost or stolen
Can my Insurer insist on replacement in the event of a claim?
Yes they can. Insurers have the right to settle claims for lost or damaged
property by repairing or replacing such property or at its option payment of
the reasonable cost of such repair or replacement.
What happens if I am underinsured?
The amount for which you insure your belongings must be for their replacement
values. The replacement value is what it will cost you, at the time of the claim,
to replace all your belongings with similar new ones.
In the event of a claim Insurers will calculate the replacement value of the entire
contents of your home. Should your sum insured be less than this value Insurers
will only pay a portion of the claim.
As an example:
CLAIM
INSURED FOR
REPLACEMENT VALUE
R 10 000
R 50 000
R100 000
UNDER INSURANCE CALCULATION
CLAIM PAYMENT
R
R10 000 x R50 000
R100 000
5 000
How do I prevent being underinsured?
We will arrange a valuation of your contents and building at no cost to our Excelsior
Policyholders.
If you are not a Excelsior Policyholder there will be a cost involved.
If my car is a write-off what value will Insurers pay?
Insurers settle claims on the retail value of your claim at the time of the accident.
The Mead & McGrouther valuation guide provides the current retail value based on
a vehicle in good condition and with average mileage. This value does not however
take into account any extras you may have added to the vehicle such as mag wheels
or a tow bar. These extras should be advised to us so that we may adjust the
value of your vehicle accordingly.