Why You Need Car Insurance Excess Protector

Motor insurance is mandatory in Kenya. Many drivers opt to take the most basic and cheapest car insurance in the market-the third party cover. Not only is comprehensive car insurance expensive but it also has complex terms and conditions for the common citizen to understand. One of the most misunderstood conditions is the Excess Protector.

How Excess Protector Works

In the event of a car insurance claim, the insured is usually required to contribute to the cost of repairs/replacement of the car. This contribution is known as the excess fee and is usually charged at a rate of 2.5% of the car value in case of own damages and up to 20% for theft claims. The more expensive your vehicle, the higher excess you will pay. Now, if you do not want to pay the excess fee and want the insurance company to bear the full costs of the claim, you will need to purchase the excess protector cover.

What your Excess Protector Covers

The excess protector covers against excess fee charged on own damage claims-where the car is damaged due to insured’s fault. It also covers against excess charged on theft claims. Depending on the insurance company terms, the excess protector is usually charged at a rate of 0.25% to 1% of the insured’s car value.

The excess protector cover is used up in one claim during the insurance period. Once you claim, you will need to reinstate the cover again by paying additional premium to the insurer.

When Your Excess Protector Cover Is Not Applicable

  • Any claims falling within the primary excess of the policy. It is important to note that the insurer does not settle claims that are within your excess.
  • Own damage claims caused by young and inexperienced drivers
  • Any claims falling outside the period of insurance cover for the policy

Important Additional Clause to Note: No Blame No Excess

Where the driver is not to blame for the accidental damage claim, then s/he should not be charged the policy excess fee. This will apply even when you do not have the excess protector cover. However, the police abstract report should clearly state that the insured was not to blame for the accident.

Would you like advice on your car insurance? Get in touch with us today on info@bountylink.com

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