I submitted a claim to Miway and after the assessment was done, the claims handler said the excess amounts to R13 660 which came as a shock to me as I was told (by the person recording my claim) that it would be R3000 when I lodged the claim telephonically. The contract says excess: 10% of the insured value with a minimum of R3000. This does not state that it is the insured value OF THE VEHICLE, my interpretation of it was the insured value of the claim, meaning 10% of the claim with a minimum of R3000. I had worked for Santam before at their claims department, the only time a client pays 10% of the value of the vehicle is if the car is written off, it is always 10% or whatever specified percentage of the CLAIM not the vehicle value.
And if it was the value of the vehicle then it should have been stated as such, the "10% of insured value" is misleading. And if the excess was 10% of the value of the vehicle, then the amount of R13 660 should have been stipulated in the policy seeing that the amount is independent (fixed) regardless of any claim amount. This is not in line with consumer protection act with regards to transparency and is definitely misleading.
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