Page 39 - Bay Union - Platinum Policy Wording
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How we se le your claim
Your excess
○ What is an excess?
An excess is the amount you have to pay for each incident when you make a claim. We will deduct the excess from the amount of cover provided by your policy for the loss. The amount and types of excesses are stated in your schedule. Check your schedule now and familiarise yourself with the applicable excesses. The types of excesses are listed below:
– Basic excess means this excess applies to all sec ons of the policy wording.
– Op onal cover excess means the excess applicable to op onal cover.
– Addi onal excess means some mes we might decide to impose an addi onal excess. There is a range of reasons why we might decide to impose an addi onal excess. If an addi onal excess applies it applies in addi on to any other excesses.
– Excess waiver means if you selected this op on it is subject to an addi onal premium and the basic excess applicable will be deleted unless stated otherwise in your schedule.
– Flat excess means if you selected this op on it is subject to an addi onal premium and the basic excess applicable will be deleted unless stated otherwise in your schedule.
– Voluntary excess means if you selected this op on it is subject to a discount and will be applied in addi on to the basic excess applicable.
○ When mul ple excesses apply: Depending on the circumstances, you might have to pay more than one type of excess when you claim.
○ One excess when you claim for your home and contents: If you have a claim for both home and contents for the same insured incident, we will calculate the excesses that apply to your home and contents separately. You do not have to pay both; you pay the higher of the two amounts only. You must pay the excess in full.
○ How to pay your excess
If your claim is approved, we will:
– ask you to pay your excess to a repairer or supplier, or
– ask you to pay us the excess, or
– deduct the excess from the amount of cover for the insured loss, and
– pay your claim.
Bay Union – Pla num Policy Wording – 24 October 2016 37


































































































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