Insurance Glossary
Voluntary excess
What is voluntary excess?
A voluntary excess is an amount you agree to pay towards a claim on top of the basic excess, in exchange for a lower monthly premium. The higher the voluntary excess, the lower the premium - but you must be able to afford it at claim time.
Example
Adding a R2,000 voluntary excess to your R3,000 basic excess means you'd pay R5,000 on a claim, but your monthly premium drops.
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