What is Excess Buyback Policy?
This is a policy that provides you with cover for your motor compulsory Excess; this product supplements your motor insurance and ensures that your excess is zero. For example, in the event of a motor claim you do not pay anything.
What is an Excess?
An excess is the amount that you have to contribute towards each and every claim under an insurance policy.
How do I benefit as the insured?
- You can manage your cash flow as there are no unexpected expenditures
- Remove worries associated with sourcing additional money to pay repairs
Where can I buy this policy?
You buy this policy from the Hollard Gabarone or Hollard Francistown offices, or you can get in touch with your broker.
When does cover end?
- When either your or we choose to cancel the policy
- On cancellation of lapsing of the underlying policy
- If premiums are not paid
- After the third claim
What is the claim process?
Lodging a claim with Hollard is an easy and hassle free process. We will provide you with prompt and efficient service.
Report any other occurrence likely to give rise to a claim under this policy in writing on the prescribed claim form as soon as possible, but in any event no later than 90 (ninety) days after the motor vehicle accident or the occurrence likely to give rise to the claim. Death claim must be reported immediately and not later than 48 (forty eight) hours after the time of the accident.